i was wondering about moving but id like to know how much id be paying a month if you include taxes and other stuff
2007-06-26 10:20:35 · 11 answers · asked by B W 1 in Business & Finance ➔ Renting & Real Estate
At the today's rate of 6.5%, your payment would be $878.57 without escrow. Tax rates vary greatly from state to state but I would add about $150 to that total (for both home insurance and taxes), so roughly $1,028.57.
Depending on your LTV you may also have mortgage insurance but this should at least give you and idea of what to expect.
2007-06-26 10:26:31 · answer #1 · answered by thinking-guru 4 · 0⤊ 0⤋
While it's pretty easy to quote a mortgage payment, there are too many variables to say what your final payment will be.
1. How much are you going to put down?
2. What interest rate are you getting?
3. What are the current property taxes on the property -- and what is the current assessed value? (It may change after you buy and can go WAY up!)
4. What is the premium for your homeowner's insurance?
Until you've located the property that you wish to buy, or at least know the area pretty well, it's not possible to make an accurate estimate of what you payments might be.
The problem with property taxes is that rates are all over the place, depending upon where you live. Folks in TX like to brag about not having an income tax, but they pay some of the highest property taxes in the country. I sold a place just outside of San Antonio last year and the property taxes were about 3.25% of the market value every year. Where I now live in SW MO, my property taxes are about 0.75% of market value, or less than 1/4 of what I paid in TX.
2007-06-26 10:55:00 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
OK, if you could pay $1071 per month then it is OK. If you paid $1071 per month then you'd be paying the amount if it were a 30 yr fixed. That way you'd end up with equity after then 10 years and maybe going with the IO loan you're getting a lower rate for that 10 years. (Check first to make sure that there are no pre-pay penalties for making the larger payments.) BTW, does that loan change to adjustable after the 10 years? Taking an IO loan and still paying the full amount as if it were a 30 year fixed would let you pay a smaller payment in the event of family financial problems.
2016-03-14 09:37:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
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RE :If i buy a house for 139000 dollars and get a 30 yr loan how much about would i pay a month w/ taxes?
i was wondering about moving but id like to know how much id be paying a month if you include taxes and other stuff
Follow 9 answers
2016-11-10 08:37:02 · answer #4 · answered by ? 6 · 0⤊ 0⤋
The payment on the loan itself--the principle and interest would be about $899.00 a month, if you credit is fair.
You would then have to figure how much a month your property taxes would be by looking up your county auditors office. They list how much you need to pay for your city taxes, depending on the address of the house.
You also need to figure out how much your insurance would be to cover the house. Usually, the loaner requires 1 whole year's worth of coverage insurance upfront.
P.I.T.I. Principle, Interest, Taxes and Insurance.
LOOK up a realtor, shop around for loan rates, and get a FIXED RATE.
Good luck and enjoy your home.
2007-06-26 10:38:16 · answer #5 · answered by xit 3 · 0⤊ 0⤋
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2017-02-09 23:24:10 · answer #6 · answered by ? 3 · 0⤊ 0⤋
First of all it will depend on what your credit score is. Your credit score will determine your rate. Your rate could be anywhere from 6% to 12% depending on your credit.Your taxes and insurance will depend on what state and county you live in. Your insurance is rated on your credit score also. Then you have closing cost, anywhere from 5000.00 to 10,000.00 dollars depending on how it is financed. You have to pay for an apprasial, survey, flood cert, doc stamps ect.
2007-06-26 10:28:51 · answer #7 · answered by financewitch 1 · 0⤊ 0⤋
I suggest you head to www.ingdirect.com, select 'open an account', then select "solutions calculator" under Home Loans. You can play around with this and it gives you EVERYTHING you'll need to know without having to apply.
2007-06-26 10:29:53 · answer #8 · answered by Briantology 3 · 0⤊ 0⤋
depends ur interest rate but somewhere around 1,000 a month
2007-06-26 10:25:34 · answer #9 · answered by auntjenny03 2 · 0⤊ 0⤋
I want to know where you buying a home so cheap!!
2007-06-26 10:27:37 · answer #10 · answered by Anonymous · 0⤊ 3⤋