How much does a home Cost?

A home is more expensive than you may think, so lets look at some rough estimates.

Scenerio 1

Home Price 300,000

Loan Term 30yrs

Intereset Rate 6%

Down Payment 3.5% or 10,5000

Mortage Amount 289,500

PMI =1% pmi is a private mortgge insurance premium that you have to pay but its remoable after you have paid 20% of the loan total amount. Call your ledner so they can remove it after the 20%.

Property Taxes 3%

HOA Monthly $95

Home Insurance per month $145

Closing Cost 10,000

In total to close in this home would be 20,5000

Average Mortgage payment 2962.52 for a 300k home (rough estimate)

Here a link if you want to try diffrent amounts

https://usmortgagecalculator.org/