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| Loan Amount | |
Enter the total amount of money to be borrowed ie. $50,000 (This number should be 15% less than the purchase price). |
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| No. of Payments | |
Enter the total number of payments: 20 years x 12 months=240 payments for loan amounts above $50,000. 15 years x 12 months=180 payments for loan amounts between $35,000 and $49,999. 10 years x 12 months=120 payments for loan amounts below $35,000. |
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| Interest Rate | |
ie. If your rate is 5.69%, you would enter 5.69. Rates range between 5.99% – 5.29% for loan amounts between $25,000 and $999,000; 7.99% for loan amounts between $10,000 – $24,000 |
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| Closing Fee | |
Enter a closing fee of $395 for loans up to $249,999;
$750 for loans $249,000 – $999,999; $1,250 for loans $1,000,000 and above. |
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| Projected Monthly Payment | |
Press "Enter" to calculate
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