Posted on: 25th Nov, 2009 08:29 am
Debt to Income Ratio, Mortgage Monthly Payment $1000.00-rent is currently $684.00
We can determine what mortgage amount would be $1,000 for a principal and interest payment, however, if you want a monthly payment of $1,000 which would inlude principal and interest and tax escrow and home insurance escrow, we would need to know your estimate of taxes. We can guess pretty close on home insurance.
A $1,000 monthly principal and interest payment with a 30 year fixed mortgage at 5.250% would be a mortgage of $181,000. Add your down payment anbd that is your purchase price.
If taxes and home insurance are a monthly payment about $350 a month, including that in the $1,000 monthly would be a mortgage amount of about $120,000. Add your down payment to arrive at a purchase price.
A $1,000 monthly principal and interest payment with a 30 year fixed mortgage at 5.250% would be a mortgage of $181,000. Add your down payment anbd that is your purchase price.
If taxes and home insurance are a monthly payment about $350 a month, including that in the $1,000 monthly would be a mortgage amount of about $120,000. Add your down payment to arrive at a purchase price.
If you want to play around with the numbers yourself, you can check out some of the calculators on the top right hand side of your screen >>
Also, if you want a really good calculator that you can use offline, you can download mine for free.... great mortgage calculator.
Also, if you want a really good calculator that you can use offline, you can download mine for free.... great mortgage calculator.
