How Much Would Total Monthly Payment Be?

Rule of thumb is to multiple the loan amount by the interest rate and add the monthly real estate taxes plus home insurance, if the community has an HOA (Home Owners Association) that payment is separate.

Example:

$100,000

x 5%

-----------

$ 500

+ $ 200 ( assuming the taxes are $2,400 per year)

+ $100 ( home insurance)

-----------

$800 (This is an estimated and quick method to calculate your monthly payments on the go)

I hope this is useful, for a more accurate amount visit www.365realtyinc.com