Thread: Honestly???

Not including taxes and insurance I think that sounds pretty reasonable.



The reason being is that there is no mortgage insurance with the USDA home loan. I assume you meet the location and eligibility guidelines for the program. When we were looking for financing, I found a pretty good USDA home loan website that lays the program out pretty well.

Good luck and let us know how it turns out for you guys.

You are'nt by chance a veteran, I ask b/c VA loans are also 100% financing with no Mortgage Insurance. There is no doubt the your base payment (excluding Taxes and Insurance) could be less than 1500, however, if you do not include them in your monthly payment you will have to pay them in their entirety when they are due, tax due dates vary from state to state, Home owners insurance varies on property type, age of home, brick vs wood, etc. your insurance agent can give you a quote if you have a property picked out, also you can look up the taxes if you have one you're considering buying. Do you have one picked out? Taxes vary greatly from state to state.
Also, you have the option of 'buying' down the interest rate by paying slightly higher closing costs, this could affect reduce your payment on a 255k loan anywhere from 100-175 a month. Feel free to call me if you want more info I'm able to lend nationally

Chris

The principal and interest payment on a $250,000 loan for 30 years at 6% interest (somewhat higher than current) would be $1,498 and change.

honestly!!! i think you forget to post what you want to post.

I wonder why was a 5+ month old topic bumped?