if i buy land for 150, 000 dollars, about what would be the monthly payment?

Answer 1

Roughly, without taking into consideration any of the various factors such as credit, down payment, etc... you would be looking at a payment of 1048.82 Principal and Interest on 150k at 7.5% rate on a 30 year loan. Most lenders will not let you go with a 30 year loan on land, require at least a 10-20% down payment and will usually place you on an ARM or Balloon loan. Below is a link for a mortgage calculator.

Answer 2

It depends on a variety of factors. (Your credit score will just be one factor on determinging your rate. Also, land is not accepted by as many lenders as collateral, so the lenders that do accept land will have a higher rate.) So for a person with a great FICO score 700+ the rate will be in the 7% ball park. Thus for a 30 yr fixed rate @ 7%, the payment will be $997.95 a month.

Answer 3

Go to a bank website. A lot of them have financial calculators that let you put in a down payment amount, figures in the interest rate, and the length of time for a loan to give you an estimated monthly payment.

Answer 4

$150,000 @ 30yrs and say 6% is $899.33 at 7% is $997.95 at 8% is $1100.65 and at 9% is $1206.93. These prices depend on your credit ofcourse. Best would be a score of 680 and up with low debt ratio ( i.e. credit cards are BELOW 50% owed on your balance) and you have 12 months of no 30, 60, or 90 day late payments on your credit report. No foreclosures or bancruptcies. Hope that helped

Answer 5

that depends on the length and type of your loan, and your interest rate; for examplel, longer loan contract generally means lower payments per month--but you pay more in the end, total. We bought a house for $155,000 and pay about $900 to $1000 a month, so you're looking at somewhere in there, maybe a little less or a little more.