Quote:
Originally Posted by rfd12
Oh ok I just thought the resident's would know better, then an outside bank.
|
Ok, I have my suspicions as to whether or not you are a serious poster or just someone trying to stir up pointless bantering. But I digress, in the case of it being the first as opposed to the latter....
PLEASE educate yourself on the homebuying process before going any further with any real estate transaction you may be undertaking. Please know that your monthly payments cannot be determined by anybody but your lender. Monthly house payments consist of much more than your principle loan amount...which you can find by doing simple math. (230k divided by the number of months you will be making a payments, which for 30 years would be 360 months= $639). That of course is assuming that you do 100% financing with 0 down payment (which I think is pretty much impossible nowadays unless you are a military veteran and can obtain a VA loan)....otherwise, the higher your downpayment is, the lower the loan amount and thus, your monthly payments will be. Property taxes, which are fairly high in this region but can also vary greatly from one neighborhood to the next, are also going to add a few hundred to your monthly payment, as well whatever interest you incur and PMI (mortgage insurance).
Again, none of these numbers can be given to you by anyone on this forum or anywhere else on the internet. You need to discuss it with a mortgage broker and I suggest bringing a family member or friend who has purchased a home before with you.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
