If your loan officer doesn't go through this with you before running your credit then they're doing it all wrong. This gives us a good way to have an estimate to see if you can even qualify for what you think you are looking for. Just a little trick you can try out. For this particular example here are the numbers we used: $700k Home 🏡 $175,000 Salary FHA Loan 6.5% Interest Rate 7.5% APR Over Estimated Principal & Interest = $4,900 Mortgage Insurance = $300 Estimated Taxes = $1,250 Estimated In
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If your loan officer doesn't go through this with you before running your credit then they're doing it all wrong. This gives us a good way to have an estimate to see if you can even qualify for what you think you are looking for. Just a little trick you can try out. For this particular example here are the numbers we used: $700k Home 🏡 $175,000 Salary FHA Loan 6.5% Interest Rate 7.5% APR Over Estimated Principal & Interest = $4,900 Mortgage Insurance = $300 Estimated Taxes = $1,250 Estimated In
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