About how much would my house payment be a month?

Question

I am getting a home with Habitat for Humanity and I am trying to figure out how much my monthly payment will be. It is a 50000 loan at 30 years with 0% interest. Our homeowners insurance is included with it. I'm not sure how much the insurance is. The house is approx. 1200 sq feet. Someone please help me figure out how much it would be. Thank you

Answer 1

the loan payment would be about 300 per month.

Answer 2

138.9 per month your lucky

Answer 3

your mortgage payment would be $138.89 a month.  

Your insurance will depend on a lot things not just the size of your house.  But, my house is 1300 sqft and my insurance is $39 a month.  Call around to different insurance companys to get a quote.  Plus do not forget about taxes.  

The bank that is financing the house should give you a good faith estimate on how much your payments will be each month for your mortgage, insurance and taxes. I would suggest calling them or who ever your contact is for Habitat for Humanity.  What a great program, good luck to you!!!  Enjoy the new home!!

Answer 4

If you escrowed your tax and insurance (I suggest this) then your payment would be approximately $264.00/ month. I calculated $500.00/ year for insurance and $1,000/ year for tax (high).

Your property tax depends on the state that you live in and I calculated on a high property tax and average insurance for that size house.

Answer 5

The house loan itself would be $166 a month. Insurance can be anywhere from $50 to $150.

Answer 6

OK, I want you to measure this string. I"m not sure where it starts or ends, but you need to help me with it anyway.

You forgot to add in property taxes.

No one can get you the homeowners quote - which is heavily dependent on your credit score - except you.  NO one knows where this house is, or what the cost to rebuild is, or what the property taxes are.  

But I can tell you, not many companies will be willing to write a house insured for only $50,000.  

Go call some local agents.  They'll figure out the insurance amount, give you quotes, and give you an idea about your annual total.

Answer 7

Perhaps You could google it first ,nonetheles, if you perfer some direct resource ,here might be your choice.http://home-insurance.featured-resources...

Answer 8

I have a good friend that is on SSI & still pays property taxes.  He gets a lot back in rebates due to low income, but he still owes something for taxes.  We can figure your loan payment for you but no one can guess your insurance payment.

YOU have to go to an insurance agent & get quotes.  No one else can buy the insurance for you, only you can do that.  The quotes will be based on cost to rebuild.  You probably won't be able to get Habitat out to your house to fix it after a covered loss so the insurance company will use the current rebuilding costs (no donated materials) and labor rates (no volunteer time).  Your 1200 sq ft house probably will be at least $150,000 to $200,000 or more to rebuild, so that is what you will need to insure it for.

There are way too many factors involved for us to give you a quote.  As an example, the premium could be 10 times more in FL than in NY.