No Way! The Mortgage is Cheaper than Renting.

Post on 06-Aug-2015

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Transcript of No Way! The Mortgage is Cheaper than Renting.

Mike Bon - MLO-119781Mortgage AdvisorMortgage Advisory Group CL36212Phone: (425) 224-8347Fax: (425) 224-8303mbon@magloans.net

Sale PendingList Price: $137,000� 3 Bed/ 2 Bath � Year Built 2002� Fully Fenced Yard � Vaulted Ceilings� Deck and/or Patio � Garage� Bath Off Master �� �

FHA LoanDown Payment 3.5% $4,795Term 360 mo1st Loan $133,527Int Rate 4.500%APR 5.561%

UFMIP $1,322Base Loan $132,205Closing Costs $6,300Cash to Close $11,095P & I $677Property Tax $150MIP $127Insurance $55Monthly Payment $1,009

USDA LoanDown Payment % $0Term 360 mo1st Loan $141,932Int Rate 4.500%APR 5.108%

Guarantee Fee $4,932Base Loan $137,000Closing Costs $6,100Cash to Close $6,100P & I $719Property Tax $150PMI $0Insurance $55Monthly Payment $924

VA LoanDown Payment % $0Term 360 mo1st Loan $139,911Int Rate 4.625%APR 5.008%

Funding Fee $2,911Base Loan $137,000Closing Costs $5,000Cash to Close $5,000P & I $719Property Tax $150PMI $0Insurance $55Monthly Payment $924

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