Debt Payoff - 15 Year Fixed Jumbo Debt Consolidation - January 26, 2007
|
Mortgage Loan Summary This mortgage scenario date is January 26, 2007. The name of the loan applicant is Walter. This borrower wants to pay off outstanding debts through consolidation. Example Property Basics The property is a single family residence. This piece of real estate is located in Murrieta, California. This property would be described as a primary residence. Mortgage Type The length of the loan in years will be 15. The middle credit score on the credit report is 730. The loan documentation level for this mortgage will be stated documentation. Today's loan rates The interest rate on this mortgage is 6.25%. The APR will be 6.41%. Current total consumer debts to be paid off Current credit card debts $14,949. Total current car loan $508. Current student loans $1,322. Additional debts to pay off $171. The total debts to pay off $16,950. Mortgage Size The property would be considered worth approximately $410,000. This property has a current loan of $262,400. The new total loan size is $279,350. The loan to property value (LTV) ratio on the property is 68%. The Mortgage Payment The monthly mortgage payment on this is $2,395. An interest only monthly mortgage payment would be $1,455. An interest only loan payment each month saves the borrower $940. Articles:http://www.archerpacific.com/quick%20tips%20on%20real%20estate%20appraisals.htm
|
Leave a Reply