I want to buy a house and if the price is 350000 how much will my monthly payment is going to be?(PITI)?

Answer 1

It depends a few variables:

1. Type of loan - your interest rate will change depending on the type of loan you choose.

2. Your credit score - your fico (credit score) will affect your interest rate

3. Your down payment - the amount you put down will change the amount you are financing. Also if you are putting less than 20% down on your home, you will either have a second with a higher interest rate or a mortgage insurance. If you are putting less than 10% down, you can expect to pay a higher interest rate. If you are planning to buy 0 down, you will pay an even higher rate.

4. The tax rate in your area is probably different than the tax rate in my area. The tax rate in Los Angeles is 1.5% of the purchase price per year. On your 350k home, you can expect to pay $5250 a year or about $438 a month.

5. The amount you pay for insurance will change depending on where you live, how much coverage you want, etc.

Once you determine these factors, you can check your payment by taking the loan amount and interest rate to a site like bankrate.com or wamuhomeloans.com and plug in your numbers to their mortgage calculator. Hope this helps.

Answer 2

The payments are based on the balance that is owed.
How much money are you putting down on the house, 10%, 15%, 20%?

What is the interest rate that you will be paying?

What is the term of your loan? 10, 20, 25, 30 years?

The Yahoo Real Estate link listed below will help you figure out your question.

Answer 3

easy way to remember, 10% of price. 350000 = 3500
that is only an est. you would have to check into taxes, insurance, pmi insurance, etc.

Answer 4

aside from all the variables(taxes, insurance and interest rate) a good ballpark estimate is 1% of the loan amount

Answer 5

go to a mortgage website and use their online calculator. try etrade mortgage. roughly you could figure $680/mo for every $100k you are borrowing at current rates.