If I want to purchase a $300,000 home contained by Georgia. How much would my downpayment and monthly mortgage be?
I have good credit, excellent contribution history and less than $15k in debt. looking to purchase outside of the city of Atlanta, in 20 miles... Newton, Dekalb, Rochdale Counties..etc. Also, how much would my annual property tax be?
Answers:
The down payment can be anything from $0.00 to anything you can afford. Your payment will depend on the amount financed and the loan type you are looking for as well as your credit ranking and documentation type on the mortgage. I am licensed in Georgia and would be happy to travel over some of the details of this to determine what will fit with your needs best. Source(s): 10+ yrs surrounded by mortgages
If you put down 10% or $30,000, and get a 30 year loan at 6.75%, your principal and interest payment would be around $1751. Taxes and insurance would be extra, and it's real strong to say what those would be but figure perchance another $1000 a month for those - could be higher or lower though.
You traditionally needed 20% down. Now, you can get a mortgage if you hold good credit for 5% down. You also can get 0% down, but the interest on the mortgage is much difficult. If you have less than 20%, you inevitability two loans. The first is for 80%, and that will be about 6% interest. You second loan for 15% willl be much higher, give or take a few 8%. The mortgage would be about $1800/month, but don't forget property taxes and insurance. If you do not own 20%, the mortgage company will roll insurance and taxes into a lump monthly payment, call escrow. Taxes and insurance could easily be an extra $500-$800 per month depending on where you live.
Buying a home for $300K 30yr mortgage at 6% is $1798.65 at 7% is $1995.91 at 8% is $2201.29 at 9% is $2413.87. With good credit there shouldnt be any money down. Your win should be at least 680 and a low debt ratio. That means if you enjoy credit cards you should owe LESS THEN 50% of your credit limit. Also you should not have any 30, 60, or 90 daylight lates on your credit. You should have at least 12 months of payments in good time. Some assets so they know that if you get into trouble you would have at most minuscule 3 months on deposit. (The more the better) thats called a VOD verification of deposit. be at your position for at least 2yrs (Longer the better).
Property taxes differ by county. I just did a few mortgages contained by snellville, conyers, and lawrenceville this and last month and property taxes averaged $2200 - $2500 Source(s): Im a real estate investor and use over 1500 bank nationwide. I use my relationships with my own bank, brokers, agents, appraisers, attorneys etc. If you need assistance with anything contact me... If your credit is what you right to be heard it is you can get a 40yr or 50yr mortgage. This will lower your payments up to $200 a month..and maybe a interest lone loan that will save you up to $200 as well. You own options..
Related Questions:
Mortgage next to extra $ for accessory on home?
My wife and I were preapproved for a FHA mortgage. We want a lot of park. But we are noticing that with our price breadth, you either get deeply of land and little house or little house and lots of land. So, we found a...
Answers:
The down payment can be anything from $0.00 to anything you can afford. Your payment will depend on the amount financed and the loan type you are looking for as well as your credit ranking and documentation type on the mortgage. I am licensed in Georgia and would be happy to travel over some of the details of this to determine what will fit with your needs best. Source(s): 10+ yrs surrounded by mortgages
If you put down 10% or $30,000, and get a 30 year loan at 6.75%, your principal and interest payment would be around $1751. Taxes and insurance would be extra, and it's real strong to say what those would be but figure perchance another $1000 a month for those - could be higher or lower though.
You traditionally needed 20% down. Now, you can get a mortgage if you hold good credit for 5% down. You also can get 0% down, but the interest on the mortgage is much difficult. If you have less than 20%, you inevitability two loans. The first is for 80%, and that will be about 6% interest. You second loan for 15% willl be much higher, give or take a few 8%. The mortgage would be about $1800/month, but don't forget property taxes and insurance. If you do not own 20%, the mortgage company will roll insurance and taxes into a lump monthly payment, call escrow. Taxes and insurance could easily be an extra $500-$800 per month depending on where you live.
Buying a home for $300K 30yr mortgage at 6% is $1798.65 at 7% is $1995.91 at 8% is $2201.29 at 9% is $2413.87. With good credit there shouldnt be any money down. Your win should be at least 680 and a low debt ratio. That means if you enjoy credit cards you should owe LESS THEN 50% of your credit limit. Also you should not have any 30, 60, or 90 daylight lates on your credit. You should have at least 12 months of payments in good time. Some assets so they know that if you get into trouble you would have at most minuscule 3 months on deposit. (The more the better) thats called a VOD verification of deposit. be at your position for at least 2yrs (Longer the better).
Property taxes differ by county. I just did a few mortgages contained by snellville, conyers, and lawrenceville this and last month and property taxes averaged $2200 - $2500 Source(s): Im a real estate investor and use over 1500 bank nationwide. I use my relationships with my own bank, brokers, agents, appraisers, attorneys etc. If you need assistance with anything contact me... If your credit is what you right to be heard it is you can get a 40yr or 50yr mortgage. This will lower your payments up to $200 a month..and maybe a interest lone loan that will save you up to $200 as well. You own options..
Related Questions:
Mortgage next to extra $ for accessory on home?
My wife and I were preapproved for a FHA mortgage. We want a lot of park. But we are noticing that with our price breadth, you either get deeply of land and little house or little house and lots of land. So, we found a...