Are these numbers good for a 30yr, fixed, conforming/conventional mortgage loan? - conventional conforming loan limits
House Price: 159,470
PMI: Yes
Interest rate: 6.5 -> Builder Support Options to purchase up to 6375
Estimated Payments: 1584
The estimated cost of closure: 3793
Total cost: $ 164,847
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The good faith deposit already made: 1500
Distribution: 175
Paid by the Seller: 1595 (interest point)
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Total loan amount: 159,470
Total cost of implementation: 2112
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Payment schedule:
no. of pymnts: 120 Principle and other things and PMI: 1123.80
no. of pymnts: 35 Principles and other things and PMI: 1021.47
no. of pymnts: 205 principle, and other things: 994.89
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Notes:
I did not have enough down payment (leaving 20%), because PMI recently spent 15k to get out of debt (car payment, student loans, etc.) .. Now I have 0 debt and plan to $ 400 per month extra on my mortgage on the number of years before paying the final GPA reduced.
Sunday, January 10, 2010
Conventional Conforming Loan Limits Are These Numbers Good For A 30yr, Fixed, Conforming/conventional Mortgage Loan?
4 comments:
6.5% is a good guy, if your score less than 660 bits, if the higher income also appears to spread themselves. If you are ok collection yield difference! Remember April is on your mortgage for 30 years for the charges calculated by the closure does not shave, the rate in April so much.
Nominal amount of day for someone with 680 + is 6.125% also say that this will be a fixed rate mortgage payment generally will not change unless it was a kind of hybrid ARM product!
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PMI is a waste of money if you can avoid it, is that the values themselves are almost all, could take longer than expected. I understand that the idea of buying an additional $ 400 per month to free the GPA, but because they spent all their money and do nothing, what if your house needs d happens "to fix something, why not $ 400 set aside each month into a savings account interest holidays, and 3-5 years of reflection on refinancing home to the PMI. Or take out a loan if the lender pays the PMI, PMI does not protect them, is for the lender protected in the event of insolvency to say, they have no savings, what happens if you pay a surcharge of $ 400 per month for mortgage and 2 years after the line you lose your job have no savings, and personal mortgage allows you to even if you are not refinanced imagine if you put $ 400 savings, now 24 months after you have saved $ 9600, and he was unemployed for 6 months, you would pay your mortgage, not a statistic. I do not know how are you, but I prefer that my moneyNon-interest instead of paying for my mortgage and have enough money to pay my mortgage in a savings account is that I want. Let's really stay home and move his whole life never too? You really want to pay the deduction of principles and greater release of tax?
Seems good, but very bad for the MIP.
It seems that a lot of adds.
However, your payment schedule is very aggressive,
We hope to keep it.
The additional $ 400 to PMI within 80 months (Save 55 months on the calendar above), then $ 400 and more, call around 10 years of your loan.
Way To Go!
>
depends on your credit score .... But you should be able to make a myCommunity to PMI and lower.
Supply of 1-point-producers must set their rates to 6.25 .... at least ... 6.375%, which is not a scam
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