What would the cost of my morgate depend on, and whats the average people are paying in your area?

Answer #1

It would depend on a number of factors:

  1. Your credit score
  2. The Loan to Value of your mortgage compared to the purchase price of your home. The more equity you put down, the better.
  3. The prevailing interest rates.
  4. Whether you fix for the duration of your mortgage or have a floater that increases over time. If you borrower $100,000 at 5.5% for 30 years, you principal and interest payment would be $567.79 per month. This number does not include PMI. You can extrapolate this number to your own balance.
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