Depends on your loan rate, but it will probably be in the range that others mentioned here. Don’t forget to add your taxes and insurance to that number!!!

A good general thing to have in your mond is that every 100k is about $650 a month…it can be as low as $400 if you have great credit/high down or as bad as $900 but avg of $650

about 1400 a month, found a cool site with tons of real estate information even a mortgage calulator so you can get a pretty accurate number.. good luck

It all depends on your credit and what kind of interest rate you could get, if you get an interest only loan, if you get fixed or variable interest, if you get an ARM or an 80/20.

Assuming you have good credit right now you would qualify for about 5.75 - 6 %

Assuming 30 year fixed

At 5.75% without putting any money down you would be
paying $1,167.15 per month

At 6% without putting any money down you would be paying
$1,199.10 per month

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Assuming 15 year fixed mortgage

At 5.75% without putting any money down you would pay
$ 1,660.82 a month

At 6% without putting any money down you would pay
$ 1,687.71 a month

———————————————————————————

If you are not putting any money down you should still have at least $2,000 to pay for inspections, and various other things.

If you are going to put money down the sweet spot is 20% which in this case would be $40,000 which you get you not only the best interest rate, but also drastically reduce your principal.

Good luck.

try here

Sometimes conditions make conditions. Maybe they said they needed a bank statement. You gave them the bank statement & there were NSF’s on there or not enough money to close. That would precipitate another condition.

Debbie you will most likely find that lenders won’t handle this small of a transaction. Other options might be investors or some other private party willing to loan you the money. My concern for you is do you know what you are buying? Have you had the property inspected? If not, why are you taking such a risk? It could have serious problems unseen that could costs thousands of dollars to fix.

Very soon,
will become available. Strickly informational.
is the most decent one right now. The informations is all over the place though.

Best advise is to ask for referrals for a good “Mortgage Broker”. At least with 10 or more years of experience.

Good luck.

“Loan committment” is not what it sounds. The only “committment” will be the NOTE and DEED. These are the “docs” when the lender has agreed to lend you the $ on certain terms.

If the lender is changing the terms (more $ down, lots of documentation, letters of explanation, etc) you don’t fit that loan program’s guidelines.

There are lots of loan programs, and lenders. They each have their own rules, so that is why it is valuable to use a mortgage broker… who can shop your scenario with lots of lenders to find the right fit.

It might be time to move on to another lender… there are lots of houses out there too! Maybe you can get a better deal elsewhere.

Best of luck!

You can get pre-approved for a loan which means you basically go thru the whole process. Once you are done you will know how much you can shop for $ wise for a house.

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