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To determine approximately how much your monthly payment will be
after you exercise your option to purchase fill in the yellow form
below with the following numbers:
| Years: |
30 |
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| Interest Rate: |
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| Loan Amount: |
Enter purchase price |
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| Annual Tax: |
1% of the Purchase Price |
i.e. If Purchase Price is $400,000 then 1% is
$4,000 |
| Annual Insurance: |
Estimate: 1/4 % of Purchase Price |
i.e. If Purchase Price is $400,000 then 1/4%
is $1,000 |
Click Calculate to determine approximately what your monthly
payments will be when you exercise your option to purchase. Your
monthly income should be three times the monthly payment. For
Example: If the monthly payment on your home is $3,000, then your
monthly income should be $9,000 per month otherwise you are liable
to lose your home in foreclosure.
This calculator will compute a mortgage's monthly payment amount based on the principal amount borrowed, the length of the loan and the annual interest rate. This calculator will also compute your total mortgage payment which will include your property tax, and property insurance payments. |
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