How much will my mortgage be if I bought a home 210,000 - 215,000?

Question

If I put $20,000 down what would i be expecting to pay with property tax, HMI (full coverage) and mortgage included?

Answer 1

depends on your interest rate

Answer 2

depends on your down payment and interest rate and loan term.  also depends on your taxes and insurance.

215k at 6.5% for 30 years with 10% (21,500) down your Principle and interest will be $1216.  If your tax rate is 1% on the home the taxes will be about $180/month (that is if its assessed at 215k).  Your home owners insurance will be around $300-600/year.  PMI will be a couple hundred a month.

consider an 80/10/10 loan, so instead of paying PMI you'll pay 10% on a second mortgage, tax-deductible interest.

Answer 3

I have always heard that for every 10,000 you can calculate a 100, so far for me it has been pretty accurate, but I don't know how true it is for others

Answer 4

Go to Google

Type in "mortgage calculators"

You'll get dozens of sites that will answer all your questions.