how much would a house payment be on a 129000.00 house no down payment?
2007-07-15 11:02:04 · 8 answers · asked by xxcrazybitxx 1 in Business & Finance ➔ Renting & Real Estate
Depends on your down payment, the length (15 years or 30 years) and percentage of your mortgage. Also is it adjustable rate, fixed, or balloon? Beware of interest only mortgages because you are getting absolutely no equity. There are multiple mortgage estimators available on the internet—Quicken comes to mind. Good luck..
2007-07-15 11:06:08 · answer #1 · answered by DrB 7 · 0⤊ 0⤋
As a ballpark, financing $129,000 for 30 years at 7% will give you a payment of about $855 for principal and interest. That doesn't include property taxes and homeowner's insurance, which will vary depending on where you live. If you have no down payment, you'll also have private mortgage insurance until the house appreciates in value and you pay enough of the mortgage to have 20% equity. In my area, as a ballpark, those 3 extras would cost you maybe another $200/250 a month, or maybe a little more.
2007-07-15 11:19:48 · answer #2 · answered by Ralfcoder 7 · 0⤊ 0⤋
I have a $130,000 listing here in Atlanta and here are the numbers my loan guy did for me. Taxes and insurance included.
He did what's called an 80/20 loan -- an 80% mortgage and a 20% second mortgage. This allows the buyer to put nothing down and avoid paying Private Mortgage Insurance.
On a 0 down, fixed rate, conventional mortgage, the payment is $994 a month. The interest rate is 6.375% on the first loan ($104,000) and 8.750% on the second ($26,000). Taxes are $103 a month and hazard insurance is $38. The payment without taxes and insurance is $854.
The payment on the interest only loan is $844, but that loan is adjustable, so expect it to change. You won't be making any payments towards the principal with that loan.
2007-07-15 12:27:25 · answer #3 · answered by rochelletherealtor 2 · 0⤊ 0⤋
Depends on down payment, interest rate, type of loan (arm vs. fixed, residential vs. commericial), terms of the loan, cost of mortgage insurane, title insurance, property insurance, property taxes, etc.
If you are serious, talk to a licensed real estate agent or a loan officer from an area lending institution.
2007-07-19 07:45:01 · answer #4 · answered by MIKE M 3 · 0⤊ 0⤋
well, it does depend on other things like taxes, escrow, interest rate, and mostly what kind of loan you take out, but for example you get a $129000 house with a 6.9% interest rate and no downpayment and a loan term of 30 years your mortgage payment will be around $850 a month
2007-07-15 11:08:02 · answer #5 · answered by ohmygosh 3 · 0⤊ 0⤋
Go to century 21.com find a house that is that much and then hit their mortgage finder and enter in the # of years you want the loan and what the interest is going to be and it will calculate it for you.
2007-07-15 11:08:13 · answer #6 · answered by christina h 5 · 0⤊ 0⤋
it depends on the program i personally have 2800 loan programs availible one of the best if you meet the requirements your payment before taxes and insurance would be 850.00 if you would like a free credit evaluation and to know what you coupld be approved for and all your options email me at kristy.self@americanhm.com
2007-07-19 10:00:24 · answer #7 · answered by Kristyw/h American Home Mortgage 1 · 0⤊ 0⤋
that is uncertain there are actually several answers to the question...
2016-08-24 08:47:49 · answer #8 · answered by Anonymous · 0⤊ 0⤋