mortgage payment: Chicagoland First Time Home Buyers: Calculate Your Monthly Payment
- 01/06/13 01:06 AM
As you are looking to buy a home, one question I always receive is how much will my monthly payment be? There are 5 items to factor into your monthly housing Payment 1. Mortgage (Principal & Interest) 2. Mortgage Insurance (for those who have a down payment of less than 20%) 3. Real Estate Taxes (paid twice a year) 4. Homeowners Insurance 5. Homeowner Association Fees
Let's take a look at what to expect on an $100,000 loan amount. Here are the assumptions we are going to make. A. Mortgage rates as of 1/4/2013 are about 3.25% for an FHA loan … (1 comments)
As you are looking to buy a home, one question I always receive is how much will my monthly payment be?
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