Property Q&A in Spring>Question Details

Audra, Home Buyer in 77389

How much down payment and how much a month?

Asked by Audra, 77389 Sun Apr 5, 2009

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This question is about this property: http://www.trulia.com/property/1064514948-25107-Barmby-Dr-Sp…

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Audra,
It says that the home is for sale 65,000 and the taxes are 3,315 ;let us assume the Insurance is 1,000 a year.
I am not allowed to give you the answer as I am not a mortgage broker and if I gave the answer I would have to give the full truth in lending percentage and total payments. BUT I can tell you to go to my web site with this information and figure your payment.
1) you will be able to figure your approx rate by your debt ratio
2) figure what you will offer for the home
3) figure your down payment FHA is 3 1/2 % Conventional 5% to 20% go for 10 %or 20%
after your payment of P ( principal _ and I ( interest ) is figured you will add your escrow which is T (taxes) and I (insurance) . add the taxes and insurance and divide by 12 and add to the payment you have been given. This PITI will be you approx payment.
Go to MyWeb site and under buyers you will find a place to work with this, Call or email if you need aditional help
Good Luck
Margaret
0 votes Thank Flag Link Sun Apr 5, 2009
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