John E asked:


I want to purchase a home, and have difficulty figuring out PMI, my monthly mortgage and additional fees.
Can you show me where to find some basic info and/or training on how to best learn the basics?
I need to learn to find out the bottom line thanks !

GLEN

2 Responses to “where can I find the mathematical computations for basic mortgages and home ownership?”

1. Stacy on September 28th, 2008 11:42 pm

   Bankrate.com has lots of info.

2. steve s on October 1st, 2008 10:09 pm

   To figure out a mortgage payment you want to go to.

   This will help you figure out your monthly payment. To figure out monthly mortgage insurance is take your loan amount and times it by .35. To figure out FHA financed mortgage insurance the loan amount is mulitplied by 1.5.

   Other fees are based on the lender, title insurance company, broker and appraisal. Also, calculate your taxes and insurance into the monthly payment to find out your total payment.

   For example:

   Monthly payment is 919
   Taxes 291
   Insurance 75
   PMI 42.44

   Total $1,327.44

   The above is for illustration purposes only. All scenarios will differ in rate, taxes, insurance and home values.

Leave a Reply

Name (required)

Email Address(required)

Website