Rent vs Buy


Thinking buying? But just not sure?

This may help you decide.

Lets say you found a home to purchase for $122,000 and here are some financing examples:

Loan Amount $122,000

Zero down 3.75 % Fixed rate! USDA ( USDA financed areas )
P and I would be $577
PMI would be about $32 per month
Taxes are what? $91 per month?
Insurance $38
$738 total payment

FHA loan same rate 3.75% with 3.5% down payment
P and I $551
PMI $114 per month
Insurance $38
Taxes $91
Total $794 per month but they would have to come in with $4270 in
downpayment!

Conventional loan w/ 20% down Same Sales price $122,000
20% down would be $24,400
P and I would be $458
Taxes 91
Insurance 38
Total payment $588

This is from one of the lenders I work with Amy Bonis. Contact her for your mortgage needs.
http://www.amybonis.com/
900 Ridgefield Drive
Raleigh, NC 27609
CALL Amy at (919) 414-4430
Email: amy@amybonis.com

Interest rates subject to change
02/02/2012

Key / Meta tages
USDA Loan
100% Loan
No Down Payment
FHA Loan
Conventional Loan
Rent vs Buy
Lease Option
Lease Purchase

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About Raleigh Homes Info

Greetings, My name is Tom Bohlmann. I am Allen Tate Realtor / Broker in the Raleigh, Durham, Wake Forest, Cary North Carolina areas. Your Home Search starts here: http://www.allentate.com/tombohlmann I have been involved in the Raleigh area real estate investing since 1995. I know all the ins and outs of many many different area markets that the average or even above average Realtor does not know. Give me a call or email so we can talk about your Real Estate Needs. Tom 919-543-5714
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