Caclulate your Payment

Remember to calculate your mortgage insurance if you are putting less than 20% down…

For FHA take the loan amount times .85% the divide by 12…then add that figure to your payment

For Conventional if putting

5% downpayment – loan amount times .78% then divide by 12

10% downpayment – loan amount times .52% then divide by 12

15% downpayment – loan amount times .32% then divide by 12

20% down payment – no mortgage insurance