Canal Crossing
AFFORDABILITY
ANALYSIS
|
| Home Price |
|
$138,550.00 |
$154,400.00 |
| Interest Rate |
|
6.93% |
6.93% |
| |
| Down Payment (%) |
|
5.00% |
5.00% |
| |
| Down Payment ($) |
|
$6,928.00 |
$7,720.00 |
| |
| Mortgage Amount |
|
$131,623.00 |
$146,680.00 |
| |
| Monthly Expenses |
|
Principal & Interest |
|
$870.39 |
$968.98 |
Real
Estate Taxes |
|
$78.00 |
$87.00 |
Private
Mortgage Insurance |
|
$86.00 |
$95.00 |
Estimated
Association Fee |
|
$87.00 |
$97.00 |
| Hazard Insurance |
|
$46.00 |
$51.00 |
| |
| TOTAL Monthly Expenses |
|
$1,167.00 |
$1,300.00 |
| |
NOTES:
ALL values
are estimates and are subject to change.
Bourne Residential Tax Rate = $6.73 per thousand.
* A 20% Down Payment will eliminate Private Mortgage Insurance.
** Minimum Income required is based upon 30% Housing Ratio, 6.93% interest
rate and traditional bank underwriting practices. |
|
