The home building company advertises a $230,000 home w/ $1,190 monthly mortgage for principle & interest only. The down payment requested is $8,047. What should I expect my monthly mortgage to be? Thank You!
What Would Be the Total Monthly Mortgage on a New 4 Bedroom Home in the Poconos?
Find an online mortgage calculator. Place in all the equipment they question and you’ll get an accurate number.
But, my $235k house with a $10k down and 4.5% APR costs me $1600 a month with taxes and PMI and insurance.
What? – you just said that your going to be paying $1,190 monthly mortgage – that’s your monthly mortgage payment! Do you want to know how much interest your being charged? you need to tell us how many years its for – 15 years? 30 years and now they came up w/a 40 year mortgage.
Do you mean the $1190 is before or after the down payment?
Scenario A. $230,000 mortgage @1190/mo = interest rate of 4.68%
Scenario B $230,000 – $8047 = $221,953
$221,953 mortgage @ 4.68% = $1148.47/mo mortgage payment.
In either scenario I would want to know how long that 4.68% rate is excellent for and if it is not permanent question what happens when it’s over.