how much will a mortgage be on a $187,000 home in Gautier,MS. for 30 years?

Question

How much monthly? with and without flood insurance?

Answer 1

This depends on a number of things. Do you know the taxes on the house? Do you know if the house is located in a flood plain? What interest rate can you get? How much are you putting down? There are just so many variables.

Heres an example. You buy a house for $187,000 with nothing down. Your annual property tax is $1,500, and your annual home insurance is $600. You get an interest rate of 7.5% for the loan. This comes out to be $1,482.53.

Now that is without PMI. If you don't have 20% down, you'll have to pay this, which might be another $120 a month until 20% is paid off. But you can do an 80:20 loan and avoid this (which means take out an 80% loan and then a seperate 20% loan). You see, it's a ton of variables.

If you want some more info, fell free to email me. I went through this last year.

Answer 2

Depends on the interest rate. as soon as you have the interest rate you can go to: http://ray.met.fsu.edu/~bret/amortize.html
and put in your numbers to get the amount. This calculation would be without taxes and insurance.

I do suggest you try and get a 15 year fixed rate mortgage instead. 15 year mortgages always pay off in 15 years and then you aren't in debt forever. (read The Total Money Makeover)

Good luck!

Answer 3

It depends on your interest rate . go to www.bankrate.com
you will find all kind of info. plus calculators.and also different loan companies in your area

Good Luck

Answer 4

Not enough information--what kind of loan, how's your credit, what's the condition of the home, etc. etc.

Answer 5

You can contact me if you would like a free pricing.

Answer 6

go to www.dotheloan.com. they have the loan calculations