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Property Info
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Down Payment and Loan Factors
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2nd Mortgage Option
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It would be rare to use an FHA loan with a simultaneous 2nd mortgage, but this at times has been common for conventional loans as a means to avoid PMI.
Here, we're providing the ability for a second lien to be included as part of the scenario so a complete and accurate comparison of all options can be considered.
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Property Expenses
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Total Monthly Payments with Property Expenses
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Closing Costs and PrePaid Expenses
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Costs for Calculating APR
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Cash to Close
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Qualification
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Please Note- Closing costs are approximated, and this does not constitute a Good Faith Estimate or an offer to lend. Income and criteria to qualify
can vary. Qualification is also dependent on the amount of other monthly recurring debt that you may have such as car loans, student loans, credit card debt, etc.
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Summary
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Please Note- Closing costs are approximated, and this does not constitute a Good Faith Estimate or an offer to lend. Income and criteria to qualify can vary.
Qualification is also dependent on the amount of other monthly recurring debt that you may have such as car loans, student loans, credit card debt, etc.
We're happy to assist with different scenarios or to explain further the differences that exist between these or other loan types. Everyone's situation is unique,
and we are experts at matching yours to an affordable and comfortable loan program.
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