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?
$738 total payment
FHA loan same rate 3.75% with 3.5% down payment
P and I $551
PMI $114 per month
Total $794 per month but they would have to come in with $4270 in
Conventional loan w/ 20% down Same Sales price $122,000
20% down would be $24,400
P and I would be $458
Total payment $588
This is from one of the lenders I work with Amy Bonis. Contact her for your mortgage needs.
900 Ridgefield Drive
Raleigh, NC 27609
CALL Amy at (919) 414-4430
Interest rates subject to change
Key / Meta tages
No Down Payment
Rent vs Buy