With less than $2,500 total out of pocket your family can own a fully rehabbed home with total monthly payments lower than the rent for most 2 bedroom apartments.

First Mortgage Calculation

 

Purchase Price

$100,000

NSP down payment assistance

(20,000)

Essential worker down payment assistance

(10,000)

First time homebuyer income tax credit

(8,000)

Down payment from buyer's funds (3.5%)

(2,300)

Closing costs

__6,000

First Mortgage Amount

$65,700

Monthly Payment Calculation
First mortgage amount

$65,700

First mortgage payment (6%, 30 yrs.)

$393.91

Second mortgage payment (0%, 5 yrs.)

-

Mortgage insurance

40.00

Real estate taxes

120.00

Homeowners insurance

__145.00

Monthly Payment

$698.91

 

Neighborhood Stimulus Group
Phone: Cell: Fax:

Contact Us | NSP Overview | Pertinent Facts | Loan Approval | Program Steps | Est. Monthly Cost | NSP Homes | Home

Copyright © 2012 Neighborhood Stimulus Group
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.