What Can You Afford to Buy?

20% down

Monthly Income

Monthly Loan Payment

Taxes, Insurance, and PMI Total Monthly Payment Down Payment Loan Amount

Price of Home

$4,000 $1,164 $264 $1,428 $43,750 $175,000 $218,750
5,000 1,331 302 1,633 50,000 200,000 250,000
5,500 1,497 340 1,837 56,250 225,000 281,250
6,000 1,678 348 2,026 60,000 240,000 300,000
6,500 1,748 378 2,126 62,500 250,000 312,500
7,000 1,957 400 2,357 70,000 280,000 350,000
7,500 2,098 453 2,551 75,000 300,000 375,000
8,000 2,237 475 2,712 80,000 320,000 400,000
9,000 2,517 515 3,032 90,000 360,000 450,000
10,000 2,797 604 3,401 100,000 400,000 500,000
11,000 3,216 650 3,866 115,000 460,000 575,000
12,500 3,496 734 4,230 125,000 500,000 625,000
14,000 3,915 795 4,710 140,000 560,000 700,000
15,000 4,195 906 5,101 150,000 600,000 750,000

10% down

Monthly Income

Monthly Loan Payment

Taxes, Insurance, and PMI Total Monthly Payment Down Payment Loan Amount

Price of Home

$4,000 $1,164 $264 $1,428 $19,500 $175,500 $195,000
5,000 1,331 302 1,633 22,000 198,000 220,000
5,500 1,497 310 1,807 25,000 225,000 250,000
6,000 1,557 375 1,932 26,000 234,000 260,000
6,500 1,748 379 2,127 27,500 247,500 275,000
7,000 1,887 428 2,315 30,000 270,000 300,000
7,500 2,098 454 2,552 33,000 297,000 330,000
8,000 2,202 500 2,702 35,000 315,000 350,000
9,000 2,517 564 3,081 40,000 360,000 400,000
10,000 2,797 606 3,403 44,000 396,000 440,000
11,000 2,989 667 3,656 47,500 427,500 475,000
12,500 3,498 755 4,253 55,000 495,000 550,000
14,000 3,775 837 4,612 60,000 540,000 600,000
15,000 4,195 909 5,104 66,000 594,000 660,000

Notes:
Calculations are based on 7% interest for 30-year loans below $240,000 and 6.5% interest for 30-year loans over $240,000.
Down payments do not include escrow costs, which run 3% to 5% of the purchase price, depending on the type of loan.
Monthly Income = gross monthly income (before taxes) less monthly debts such as car payments, revolving credit cards, alimony, and child support.
PMI = private mortgage insurance.
Tierra Properties and its representatives do not guarantee the accuracy of these data. While we deem the information to be reliable, the reader is advised to independently verify its accuracy with appropriate professionals.

Distributed by Irma Vargas, Tierra Properties, 11866 Wilshire Blvd, Los Angeles, CA 90025
Phone: (310) 477-3192   Email: vargas@tierraproperties.com    Office hours: 9 am to 5 pm Monday through Friday.

 

Find Your Dream Home!

Home  |  Residential Real Estate  |  Commercial Real Estate  |  Services  |  Contact Us  |  Search


Tierra Properties, 11866 Wilshire Blvd., Los Angeles, CA 90025, USA
Telephone: (310) 477-3192   Fax: (310) 478-5631
Residential sales: vargas@tierraproperties.com
Commercial sales: keasbey@tierraproperties.com
General information: information@tierraproperties.com
Comments about this web site: webmaster@tierraproperties.com

Copyright 1999-2009. All rights reserved.
This award-winning web site was designed by 2U3D Web Design.