07/24/2021
🔻🔺️Examples of a $200,000 Home Loan- 30 year fixed rate with common Home Loan Types🔺️🔻
🔶️Conventional
🔸️ Low Rates for borrowers with excellent credit. No limits on income, area or occupancy type.
🔺️$40,000 (20% down-payment
3.75% (Interest rate)
$44,705 (Total Cash to close)
$160,000 (Loan Amount)
$963 (Monthly Payment)
🔶️FHA
🔸️Flexible guidelines, more forgiving on credit than conventional, low interest rate, no reverses required for 1 to 2 unit properties. Must live in the home as primary resident.
$7,000 (Down Payment)
3.25% (Interest Rate)
$11,474 (Total Cash to Close)
$196,377 (Loan Amount)
$1,320 (Monthly Payment)
🔶️VA
🔸️No down payment required. Flexible credit guidelines. Must be a Veteran.
$0 (Down Payment)
3.25% (Interest Rate)
$4,858 (Total Cash to close)
$204,300 (Loan Amount)
$1,139 (Monthly Payment)
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Gabriela Méndez
S.190178
eXp Realty