Your Boise mortgage resource for first time home buyers.
Boise first time home buyers need to take control the their mortgage loan process and completely understand how the total mortgage payment is calculated.
Most First Time Buyer loans payments are made up of 4 numbers that make up the total payment.
1. Principal & Interest is calculated by using the mortgage calculator. Enter you estimated loan amount and rate.
Check today’s rates for a Boise mortgage for Idaho first time home buyers.
2. Homeowners Insurance usually runs between $20 and $40 per month, depending on the cover that they chose to cover their Idaho mortgage.
3. Real Estate Taxes are usually 1.25% of the purchase price. For example with a $100,000 purchase price, the taxes would be approximately $1,250 per year which would be $104. per month.
4. Mortgage insurance on a $100,000 loan would be approximately $45.00 per month. This only applies if a home buyer puts less then 20%. The up front Good Faith Estimate will provide much more detail and complete breakdown of all of the fees and total Idaho mortgage payment.
Please take the time to understand how a Boise mortgage payment is put together. When you break it all down, it is much easier to know where your next Idaho mortgage payment will be.
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Craig Ballhagen-Guild Mortgage,-Boise Home loans-208-713-3309-
To learn more about Guild Mortgage and myself please visit my other site.
[...] are designed to break down the entire home loan process and fully explain the Good Faith Estimate, calculating your first mortgage payment, and first time buyer programs, in addition to zero down [...]