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| WHY RENT WHEN |
| YOU CAN OWN? |
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| *click to view examples* |
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Price: $158,900 |
5% |
10% |
25% |
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Minimum Down Payment Required |
$7,945 |
$15,890 |
$39,725 |
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First Mortgage |
$150,955 |
$143,010 |
$119,175 |
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Insurance Premium |
$4,906 |
$2,860 |
$0 |
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Total Mortgage |
$155,861 |
$145,870 |
$119,175 |
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Monthly Mortgage Payment |
$915 |
$856 |
$699 |
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Total Monthly Payments** |
$1,155 |
$1,097 |
$940 |
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Combined Income Required**** |
$41,558 |
$39,357 |
$33,478 |
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Property Purchase Tax |
$1,589 |
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Estimated Legal Fees |
$1,000 |
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Estimated Appraisal Fee |
$240 |
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Total Estimated Closing Costs |
$2,829 |
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Based on a Conventional Rate of 5.1% and a High Ratio Rate of 5.1% |
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| * |
Rates subject to change without notice / Client may have to qualify at a higher rate |
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Includes estimated taxes, maintenance fees & heat |
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Subject to approved credit and income verification |
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