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Updated about 9 years ago on . Most recent reply

User Stats

25
Posts
1
Votes
Kevin R.
  • Philadelphia, PA
1
Votes |
25
Posts

Help calculating mortgage on my potential first property??

Kevin R.
  • Philadelphia, PA
Posted

I am first-time homebuyer looking at a triplex in the Philadelphia area. I am likely looking to get a 30-year fixed FHA loan with 3.5% down, which looks like the monthly payments would work out to around $2,000/month according to my mortgage calculator. However, my realtor is saying that it would actually be $2,600/month. Any idea why there is such a discrepancy between the two numbers?

  • List price: $419,900
  • 2015 taxes: $2,742 (according to
  • Credit score: 760

Any help would be greatly appreciated. Thank you!

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