it could be the harp program you refinance?
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Question by : What is the total out of pocket expense on a loan using mortgage rates today on a house in Texas for 0, hospital 000?
What is the out of pocket for 3.5%, 10% and 20% down? Taxes would be $ 3,200 per year. Credit is good. I get tripped up on PMI and FHA charges.
Best answer:
Answer by Huntsman
There are plenty of calculators out there to help you figure all this out.
Do a couple of them. Google: Mortgage calculator or closing costs calculator
PMI is just something you pay if you don’t put 20% down
And you will have to pay closing costs which can run 2% to 4% of the purchase price
Know better? Leave your own answer in the comments!
I have been a Realtor in Texas since 1978. Today you can get the lowest rate by paying some costs- or get the lowest costs by paying a little higher rate. They usually have 3 or 4 levels for this. A mortgage company is required by law to give you a pretty accurate estimate. If you are buying a house- remember the loan company does not require a home inspection so they don’t figure that into their estimate- but you should get one. It will cost you $ 325 to maybe $ 400 or in some cases more. They will estimate the property taxes unless you can provide them a solid figure and a very rough guess of home insurance unless you can tell them how much your company will charge for the type you want.
Of course if you put 20% down you would not be required to have an escrow account but you will still have the expense- so I would figure it as if I have an escrow account anyway.