RATE MY FIRST HOME

[Ryan Boren]

Just closed on my first SFR and the numbers are as follows:

Purchase Price - $33,000.00 (Do not be alarmed in my area this is common)

Closing Cost - $5,703.05

Cash to close - $8,8411.93

Loan Amount - $26,400

Appraised Value - $45,000.00

Interest Rate - 4.625 %

P & I Monthly - $135.73

Insurance and Taxes Monthly - $324.36 (I have been rounding up to $500.00 for P & I/Ins/Taxes)

Rent Amount - $1,100.00 (tenant covers all utilities)

My dad and I manage the property so i do not factor in property management

Repairs so far - $350.00 (Roof and Main systems in good condition)