Taxes, PMI, insurance, etc

[Skidmark]

Are there any quick and easy methods to estimating these to determine a house payment? I'm not FreightTrain rich, so I have to budget.

I'm trying to see what my payment may be.

Will this be sufficient?

House: ~150k
PMI: 1.35% / 12
Taxes: 3000 / 12
Insurance: 1000 / 12

+ principle and interest

[Whiteboy]

We pay cash around here no payments.

[Skidmark]

Seems kind of pointless with low interest rates. Couldn't you use the cash to invest in other means that yield a higher return?

You must be selling a bunch of mustangs rofl

I know.. Sarcasm

[Roscoe]

https://www.zillow.com/mortgage-calculator/

You can look up actual total tax rates by county, and your insurance is about right...

[Skidmark]

www.zillow.com/mortgage-calculator/

You can look up actual total tax rates by county, and your insurance is about right...

Thanks for the link - legit!

Going to dig up actual rates now

[Skidmark]

Damn, 3800/yr for Bedford on 150k.

[LANTIRN]

Who gives a shit about budvegts? Buy the mosg expenzive house you can't affors and then ask for a bailout when they try ro relossess it. It is the new american way.

Or just pretend yoj are mexican and get a free house with an escalade.

[Skidmark]

Who gives a shit about budvegts? Buy the mosg expenzive house you can't affors and then ask for a bailout when they try ro relossess it. It is the new american way.

Or just pretend yoj are mexican and get a free house with an escalade.

[SVT Lurch]

PMI will vary greatly (over a point) depending on loan type, LTV, and credit score. The rest, as stated, is not far off.

[Whiteboy]

PMI will vary greatly (over a point) depending on loan type, LTV, and credit score. The rest, as stated, is not far off.

This is the GUY!

[Skidmark]

PMI will vary greatly (over a point) depending on loan type, LTV, and credit score. The rest, as stated, is not far off.

LTV?

Loan would prob be FHA and credit is excellent.

[Broncojohnny]

Loan to value, the ratio of the amount of the loan to the value of the house you are buying.

Your insurance is probably a bit high too but I'd use that number just to be conservative.

[Roscoe]

PMI is of no concern, everyone here puts more than 20% down....

[Vertnut]

PMI just pisses me off. You're flushing that down the toilet. Not sure with FHA, but there other options.

[AdamLX]

FHA 30 year will be 1.35% of loan amount / 12.
FHA also has a 1.75% UFMIP (Up Front Mortgage Insurance Premium) which is financed into your loan amount as well.

Big change coming June 1st, if you do not put 10% down on FHA you will no longer be able to remove your PMI once you reach 78% loan to value.

If you have excellent credit and can put the extra 1.5% down, go conventional. The MI factor is .9X% and it is a removable charge once you get down to 78% loan to value.