Loan Programs Available from Local Lenders
The following loan programs are examples of financing options available for a home priced at $50,000. Similar programs are available for other price ranges.
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Programs
| | A | B | C | D | E | F | G |
|---|
| Interest Rate | 7.625% | 7.75% | 9.5% | 6.875% | 7.45% | 7.45% | 7.5%-9% |
| Down Payment | $ .00 | $1,350 | $ .00 | $650 | $1,500 | $2,500 | $ .00 |
| Closing Costs | 1,599 | 1,213 | .00 | 2,509 | 1,255 | 1,120 | 2,280 |
| Prepaid Expenses | 1,038 | 1,333 | 1,365 | 690 | 814 | 860 | 733 |
| Mortgage Insurance | | 1,094 | | | | | |
| TOTAL | $2,637 | $5,035 | $1,365 | $3,849 | $3,569 | $4,480 | $3,013 |
| | | | | | | | |
| Seller Contribution | -1,500 | -1,833 | -1,500 | -690 | 3% of SP | -860 | -3,013 |
| Buyer Tax Credit | -187 | -488 | -488 | | | | |
| Mortgage Ins. Financed | .00 | -1,050 | .00 | | | | |
| Finance Costs | | | | -2,659 | -1,800 | .00 | |
| Total Cash To Close | $950 | $1,664 | $623 | $500 | $1,769 | $3,620 | $ .00 |
| | | | | | | | |
| | Monthly Payments |
| Principal & Interest | $353.90 | $356.06 | $420.43 | $331.42 | $339.12 | $332.13 | $378.00 |
| Taxes | 62.50 | 62.50 | 62.50 | 62.50 | 62.50 | 62.50 | 62.50 |
| Insurance | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 |
| Private Mort. Ins | .00 | .00 | .00 | 24.68 | 36.78 | 30.88 | 20.00 | |
| Lender Assistance | .00 | .00 | .00 | .00 | 19.09 | NA | |
| Total Payment | $441.40 | $464.27 | $507.93 | $438.60 | $482.49 | $450.50 | $465.50 |
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This disclosure if for information purposes only.
All information is subject to change without notice.
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