Jun
20
Here is the fax that Lance sent me from the American Lending Network:
I asked him to give me different scenarios.
| Loan Type | Down Payment | Monthly Payment | Estimated Tax, Insurance, MI | Total |
|---|---|---|---|---|
| FHA 0% down | $0.00 | $864.44 | $170.28 | $1,034.72 |
| FHA 3% down | $4,500 | $839.97 | $170.28 | $1,010.25 |
| 100% Loan Conventional | $0.00 | $1,020.24 | $107.23 | $1,127.47 |
| Conventional 5% Down | $7,500.00 | $845.59 | $107.23 | $952.82 |
| Alta Loan | $0.00 | $894.44 ($336.05) | $107.23 | $1337.72 |
| Alta Loan 5% Down | $7,500.00 | $792.95 ($154.18) | $107.23 | $1054.36 |
Purchase Price $150,000
Payment amounts are estimates and may vary with % rate, loan amount, and escrow amounts and are subject to loan approval.
Alta loans require two loans and therefore two monthly payments.
These estimates are also based on good/excellent credit rating.
I found an on-line option for getting approval: Mortgage Info Center
Comments
1 Comment so far
Hey, just wanted to say what a great site this is. If you’ve got visitors needing first time home buyer help, I own the free directory for grant money. Hope your site continues to entertain!