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Elm Court
AFFORDABILITY
ANALYSIS
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Two Bedroom |
| Home Price |
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$160,000.00 |
| Interest Rate |
|
6.45% |
| |
| Down Payment (%) |
|
5.00% |
| |
| Down Payment ($) |
|
$8,000.00 |
| |
| Mortgage Amount |
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$152,000.00 |
| |
| Monthly Expenses |
|
Principal & Interest |
|
$955.75 |
Real
Estate Taxes |
|
$141.00 |
Private
Mortgage Insurance |
|
$99.00 |
| Estimated Association Fee |
|
$75.00 |
Hazard Insurance |
|
$53.00 |
| |
| TOTAL Monthly Expenses |
|
$1,324.00 |
| |
NOTES:
ALL values are estimates and are subject to change.
Concord Residential Tax Rate = $10.56 per thousand.
*
Minimum Income required based upon 30% Housing Ratio, 6.45% interest rate and using traditional bank underwriting practices. |
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