El Cajon
|
Maximum gross income: |
|||||||||
| Family Size: | |||||||||
| 1-$44,250 | 5-$68,250 | ||||||||
| 2-$50,550 | 6-$73,300 | ||||||||
| 3-$56,900 | 7-$78,350 | ||||||||
| 4-$63,200 | 8-$83,400 | ||||||||
| Up to 40% of purchase price silent second loan | |||||||||
| Additional $7,500 may be available for closing costs through another program | |||||||||
| MCC program is available | |||||||||
| There is minimum contribution of 1% of the purchase price from personal funds for reserves after closing. | |||||||||
| Must have a minimum credit score of 650. | |||||||||
| Additional Down Payment Assistance is available for borrower's with income up to 120% of median income | |||||||||
| and below 50% of median income | |||||||||
| Example: Family of 4 with an annual income of $60,000 purchase a home for $350,000 | |||||||||
| Purchase Price: | $350,000 | Effective Monthly payment | |||||||
| P&I | $1,262.11 | ||||||||
| Silent 2nd | $131,000 | Hazard ins. | $55.00 | ||||||
| Taxes | $364.58 | ||||||||
| First Mortgage | $219,000 | Mtg Ins | 90.69 | ||||||
| MCC | -195.39 | ||||||||
| 1571.99 | |||||||||
| Closing Costs | $6,353.00 | ||||||||
| Prepaids | $2,328.12 | ||||||||
| Silent 2nd | -$8,000.00 | ||||||||
| Funds to close | $681.12 | ||||||||
| Loan Information is based on a 30 year fixed rate of 5.5% apr. 6.102% | |||||||||
| Interest rates are subject to change. | |||||||||
| Want to get pre-approved? Apply Online | |||||||||
Affinity Financial - 10650 Treena St #103 - San Diego, CA 92131
Office Phone: (858) 693-5400 Fax: (858) 693-4050 Toll Free Phone: 866-365-6428
© 2012 Myers Internet All Rights Reserved
Powered by: Myers Internet | Admin Login