how much would our monthly mortgage payment be?

Question

my hubby has fair credit 600-625 beacon. and we want to purchase a house for $250,000 in central florida(where we currently live) with a fixed interest rate of 7.5% over a 30 yr period.
we dont wanna try anything until we know how much this will cost.

we are first time home buyers.

Answer 1

when you get this answer it will lead to many more relating to financing so versus just giving you a monthly payment figure here is the link that will assist you in getting the answers relating to first time home buying calculators.
Mortgage Calculators – Includes finding if you will qualify for a mortgage:
http://www.mortgage-x.com/calculators/Pre-Qualifier.htm
Buena Suerte

Answer 2

$1748.04/ month for the next 30 years, assuming you can get the loan at 7.5% on $250K for 30 years. This does not include any other fees. In general you can do these calculations using what they call mortgage calculators. I used the one from the Stanford Federal Credit Union, but they're easy to find. It's just math, so it doesn't matter whose you use.
Your total payments over the 30 years:$629,289.54; total interest: $379,289.54.

Answer 3

When we were looking for houses, we were told to always assume the monthly payment, including taxes and insurance, if you got a 30 year, would be 10% of the cost.
So, for a $250,000 house, it would be about $2500/mo.
It has never failed us. Been pretty accurate for us so far.

Answer 4

You need to consult with a qualified mortgage professional. They will be able to walk you through the process and answer any questions you have now, as well as those that come up in the future.

Answer 5

http://www.choicefinance.net/calculators/java_cl.htm
7.5% sounds a little high, even with your credit scores.
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Answer 6

$1748.04 A MONTH NOT INCLUDING TAXES AND INSURANCE