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What would be the cost of a house if mortgage was 1200 dollars?

What would be any additional cost other then mortgage? by cathy5star484 from Columbus, Ohio. Aug 4th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,795 contributions

Too much missing info to properly answer your question. when you purchase a home that's being financed, many things go into determine your payment.. What lending program do you qualify for, how much down payment do you have, what are the property taxes and insurance costs for the home you select, is mortgage insurance required, etc, etc, etc.. without knowing all the details, it's impossible for anyone here to quote you.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Aug 4th 2015
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Lorne Harvey (lorneharvey)
#1 ranked lender in Washington - 418 contributions

Assuming you have taxes and insurance built into the payment, I would estimate that would get you into a home with a purchase price of about $180,000, with a 20% down payment. There are a whole lot of variable to answer this question.

Aug 4th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

Your mortgage payment will be paying back the loan (principal and interest), and will usually also include homeowners insurance, property taxes, and maybe mortgage insurance. There simply is too much information missing to give any sort of valid answer.

Aug 5th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,106 contributions

Hi Cathy, it depends is the answer. There are too many scenarios to give you an exact answer because each situation and property is unique. With all home loans you will pay for your homeowners insurance, property tax and HOA if applicable. Trash, water/sewer and utilities are usually separate, but you should count them in your personal budget even though lenders do not. Keep in mind, for the time being you are able to write off a portion of your mortgage interest each year giving an additional savings. Best wishes, Sean

Aug 5th 2015
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Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 533 contributions

There are a lot of variables before calculating this. First credit score, then how much down payment, then rate. definitely contact a mortgage broker that is licensed in Ohio. Do internet search for Mortgage broker in Columbus,OH or wherever you are searching. I would not go with a big bank as mortgage brokers can definitely get better rates. Also depending upon your situation you should try and make sure you get some sort of lender credit to help offset some of the closing costs. Good Luck to you! Mark 303-955-5606

Aug 6th 2015
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