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Willow Central
AFFORDABILITY
ANALYSIS
(For Illustration Purposes Only)
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Two Bedroom |
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Three Bedroom |
| Home Price |
$150,000.00 |
|
$167,675.00 |
| Interest Rate |
6.58% |
|
6.58% |
| |
| Down Payment (%) |
5.00% |
|
5.00% |
| |
| Down Payment ($) |
$7,500.00 |
|
$8,383.75 |
| |
| Mortgage Amount |
$142,500.00 |
|
$159,291.25 |
| |
| Monthly Expenses |
|
Principal & Interest |
$908.21 |
|
$1,015.22 |
Real
Estate Taxes |
$182.75 |
|
$204.28 |
Private
Mortgage Insurance* |
$92.03 |
|
$102.88 |
| Estimated Assoc Fee/Insurance |
$100.00 |
|
$100.00 |
| |
| TOTAL Monthly Expenses |
$1,282.99 |
|
$1,422.38 |
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NOTES:
ALL values are estimates and are subject to change.
Acton Residential Tax Rate = $14.62 per thousand.
* A 20% Down Payment will eliminate Private Mortgage Insurance
**
Minimum Income required is based upon 30% Housing Ratio, a 6.58% interest rate and traditional bank underwriting practices. |
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