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June, 2017 257 N 4th Street, Grove Beach, CA Main House: $550,000 purchase price Vacant Land: $239,000 purchase price
Scenario 1, Main House: 10% down payment = $55,000 1st mortgage $495,000 @ 4.625% @ 30 fixed @ no mortgage insurance = $2,545/mo. (principal and interest) Property taxes = $481/mo. Hazard insurance = $70/mo. Total payment = $3,096/mo. (PITI) Scenario 2 Main House: 10% down payment = $55,000 1st mortgage $440,000 @ 3.875% @ 30 fixed = $2,070/mo. (principal and interest) 2nd mortgage $ 55,000 @ 4.75% variable interest only = $175/mo (interest only) Property taxes = $481/mo. Hazard insurance = $70/mo. Total payment = $2,796/mo. (PITI) Scenario 3 Main House: 20% down payment = $110,000 1st mortgage $440,000 @ 3.875% @ 30 fixed = $2,070/mo. (principal and interest) Property taxes = $481/mo. Hazard insurance = $70/mo. Total payment = $2,621/mo. (PITI) Scenario 1 Vacant Parcel: 20% down payment = $47,800 1st mortgage $191,200 @ 5.25% @ 3/1 ARM (Adjustable after 3rd year) = $1,056/mo. (Principal and interest) Property taxes = $209/mo. Total payment = $1,265/mo. (PIT) Tyson Kerr Loan Originator NMLS ID #: 502267 805-709-3465 U.S. Bank National Association NMLS # 402761 1. We determine the estimated loan amount by using the estimated monthly principal and interest payment. 2. We determine your estimated monthly principal and interest payment by using 43% of the provided income amount divided by 12, minus the monthly debt provided, and minus an assumed 20% of the estimated monthly principal and interest payment for a property tax and homeowners insurance escrow payment. The amount remaining after this calculation is your estimated monthly principal and interest payment. Calculations are based on an estimated down payment of 20% or greater and our current rate and terms with zero discount points. A lower down payment will increase your monthly payment and may cause mortgage insurance to be needed on your loan. Estimated monthly principal and interest payment does not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included and an initial customer deposit may be required if an escrow account for these items is established. The estimated initial monthly principal and interest payment amount shown above doesn’t include the FHA required monthly mortgage insurance payment. A VA Funding Fee or FHA Up-front Mortgage Insurance Premium (UFMIP) may apply depending on the product you choose. Loan approval is subject to normal credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Visit usbank.com to learn more about U.S. Bank products and services. Mortgage and Home Equity products are offered by U.S. Bank National Association. Deposit Products are offered by U.S. Bank National
