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