Approximately how much would a $300,000 mortgage cost/month?

For someone with an excellent credit score? Any ideas?
Additional Details
Sorry, let's say with 5% down.

300,000 less 5 percent 15,000 = 285,000

285,000 @ 7 percent rate 1 loan $1896.10

estimate taxes at 2000.00 yr
estimate Home Owners Insurance at 1,200 yr
=3,200 divided by 12 = 266.67

Total Principle/Interest & Taxes & HO Ins = 2162.77 year (Estimate only) Depends if you want to escrow your taxes & insurance. There are other factors to consider - Try to use a Broker - one that will pull your credit one time, and send it to lenders that go off his/her credit report - That way you do not have alot of companies pulling your credit down, and thus pulling your score's down. Do you need closing cost help (from the seller). There are other things to consider also - Debit to income ratio - Conforming Lenders (since you have excellent credit) you will be going conforming. Than your DTI can only be at 45 percent (lower if you are going FHA).

http://www.fanniemaefoundation.org/...

http://www.fha-home-loans.com/

http://www.freddiemac.com/

As I mentioned: Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.

Try to find someone (broker) that will pull your credit one time, and submit your loan application to company's that will go off his credit report. By the way, a loan application is called a 1003, and they will issue you a GFE (Good Faith estimate, with-in 3 days, that is per the RESPA laws, and the TIL (Truth in Lending). The GFE will tell you the up-front closing cost associated with your loan. The TIL will tell you the terms, rate associated with your loan. This is a estimate only - not the final - but it does help you figure things out.

If you decide that you only want to live there for a certain number of years, than you can go interest only - or pick- a payment - Where you have the option of paying interest only, 1 percent, interest only - 15 year option. This is one that is good if you are self-employed. When you have the extra money, apply it to your principle. If you are in a lien month, than pay the lower payment. These are very popular with people today.

Good luck to you.

In google, type "Mortgage Calculator". You will find quite a few resources allowing you to put in a few simple figures (ie. interest rate, down payment etc.). You will then get a good indication of what you could be looking for in terms of monthly payments.

Depending on interest rates, about $1800 a month.

Probably in the ballpark of $ 1400.00 per month....if your credit is great!!

It depends on the interest rate. It's been awhile since I took a class but I think the equation for that is:
Principal of note X Annual Interest Rate X Time expressed in years = Interest
$300,000 X 10% X 30 = $900,000
Now add the interest to the to the principal.
$900,000 + $300,000 = $1,200,000
Divide total by 30 years and again by 12 months.
With these calculations your montly mortgage would be over $3,000 monthly.
I'm probably wrong.
I just realized why it looked so wrong, I didn't take into consideration to deduct the down payment.

$1875 a month for 20 years

Come on over and I could answer that for you....

Antal
Surefast Mortgage

http://gabbly.com/http://www.surefastmortgage.com/

You don't say if you're putting money down/how much? What is the interest rate?

15.000 nice spread pick me

The cost of a mortgage depends on the interest rate. Suppose the interest rate is 8%, then:

8/100 x $300,000 = $24,000 pa

or

$2,000 pm (not allowing for any extra charges like insurance and accounting fees etc)

If you have an excellent credit rating, then ask a few financial institutions. You might consider engaging a mortgage broker to get the best deal for you.

Good luck.

If you go to any lending company website, most have a mortgage calculator. . . you can plug in the loan amount, terms, interest rate, annual tax amount, insurance and get an idea of the payment. Good luck.

http://www.bankrate.com/gookeyword/calculators/mortgages.asp

Plug your numbers in here and you'll get your payment amount. The rate today for a 30yr fixed is 5.99%.

That will depend upon several things. You should be able to get 6.5% pretty easily. That works out to $1,896.20 for P & I on a 30-year fixed-rate loan. Your total payment will depend upon the propery taxes and homeowner's insurance impounds which are impossible to predict from afar. Add another couple of hundred if you need PMI. You'll need it if you're putting down less than 20%.

This is what it would take to anwer the question where do you live or where do you wish to buy a property. What is your good credit score. Then what type of program would you like to go on cause i could say your payment would be $964.00 to $758.57 thats for a $300,000 dollar loan.

A general rule of thumb is $10 per month for every $10,000 of mortgage. Hence, a $300,000 mortgage for 30 years will cost about $3,000 per month.

Your payment is dependent on several things. How is your credit?

Secondly, how long are you going to hold the property? If for a short time, then an interest only loan might be best for you. If you plan on staying there for awhile, then think a fixed rate. Adjustable's are good at the beginning, but I have many homeowners want to sell me their house because their payments have ballooned beyond their pocketbook. If you can answer those questions, then we can begin to find out what a payment would be.

Conversely, why don't you apply to see what you can afford?

it would depend on what interest rate you would be paying, if it is a fixed rate or a flexible. ask your banker.

2000k including taxes an insurance with about 5% down

withh everything about $2500 at todays current rates (depends if you neeed PMI, if not about 200 less)

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