We are planning on purchasing a home in about 6 months. We having talked to the morgage company yet- but I wanted to get an idea on how much we might have to pay a month with nothing down. We have lived overseas for 7 years and have never bought a home.
2006-11-01 02:18:38 · 4 answers · asked by jeweledfruit 3 in Business & Finance ➔ Renting & Real Estate
Getting a mortgage that large with nothing down might be pretty difficult.
At 6% fixed rate for 30 years, if you could find it with nothing down, you'd pay a little under $2000 a month for principle and interest. Taxes and insurance would add to that. Insurance might be $50 or so a month. Taxes could vary a lot depending on just where the house is located and the assessed value, but would probably be between $500 and $1000 a month (could be more, not likely less unless assessment is very low). So you're probably talking somewhere towards $3000 a month, or more depending on interest rate and taxes.
2006-11-01 02:45:47 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
real rough number is $6 to $7 dollars per thousand borrowed for the loan. plus taxes and insurance. Call a local bank you do business with. Get a credit report.
Don't get an ARM at this time, too unpredictable.
There are also mortgage estimaters online.
2006-11-01 02:25:34 · answer #2 · answered by zocko 5 · 0⤊ 1⤋
Almost sure that you must find every financial solution at= loandirectory.info-
RE What is a realistic morgage payment in Va for a 315,000 house?
We are planning on purchasing a home in about 6 months. We having talked to the morgage company yet- but I wanted to get an idea on how much we might have to pay a month with nothing down. We have lived overseas for 7 years and have never bought a home.
2014-09-04 00:38:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
About $750 per month if you look far and wide enough with a low down payment plan for 50 years, interest only. Try http://www.lendingtree.com
2006-11-01 02:25:08 · answer #4 · answered by Latin Techie 7 · 0⤊ 1⤋