Carriage House Junction
AFFORDABILITY
ANALYSIS
|
| Home Price |
$180,000.00 |
$180,000.00 |
$180,000.00 |
| Interest Rate |
6.42% |
6.42% |
6.42% |
| |
| Down Payment (%) |
5.00% |
10.00% |
20.00% |
| |
| Down Payment ($) |
$9,000.00 |
$18,000.00 |
$36,000.00.00 |
| |
| Mortgage Amount |
$171,000.00 |
$162,000.00 |
$144,000.00 |
| |
| Monthly Expenses |
|
Principal & Interest |
$1,071.86 |
$1,015.44 |
$902.62 |
Real
Estate Taxes |
$180.00 |
$179.40 |
$179.40 |
Private
Mortgage Insurance |
$111.00 |
$104.63 |
$0.00 |
Estimated
Association Fee |
$60.00 |
$60.00 |
$60.00 |
| Hazard Insurance |
$25.00 |
$25.00 |
$25.00 |
| |
| TOTAL Monthly Expenses |
$1,446.69 |
$1,384.47 |
$1,167.02 |
| |
NOTES:
ALL values
are estimates and are subject to change.
Hamilton Residential Tax Rate = $11.93 per thousand.
* Minimum Income required based upon 30% Housing Ratio, 6.42% interest
rate and traditional bank underwriting practices. |
|
