Not all payments are created equal for a variety of reasons.
Our estimate is based on the following:
- 30-year fixed rate loan with 20% down at 4% interest
- Current property taxes
- An estimate of home owners insurance
YOUR PAYMENT WILL BE DIFFERENT!
Check with your mortgage lender and insurance agent for a more accurate payment estimate. Here are some of the reasons your payment will be different than our estimate:
- Interest rates vary....sometimes by the hour
- Your credit history
- Your work history
- Lien programs vary - conventional, SD Housing, FHA, VA, Rural Development, etc.
- The amount of your down payment
- Your loan terms - 15-year, 30-year, fixed rate, adjustable rate, etc.
- Type and cost of homeowner's insurance
- Flood insurance, if needed