Buying first home...?

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Mar 19, 2011 | 07:02 AM

#31

mistakenID

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From: West Valley Utah

The $730 payment would work pretty close for a 20 yr mortgage. That would be PITI figuring around $150 a month for the taxes and insurance.

Mar 20, 2011 | 03:00 AM

#32

ATC Crazy

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Joined: Jun 2003

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From: SW VA

Well, I had a chat with the realtor and loan advisor today. The loan advisor drew it up as a FHA loan, whereas I needed the rural investment loan. So she redid it, and called me back, saying my payment would still be $690's. $22k loan drop, but only a $15/mo payment drop...

I guess I get to double-down on my truck payments and save a little bit over the next 2 years and then see where I'm at

Mar 20, 2011 | 06:09 AM

#33

LMS Residential

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Joined: Mar 2009

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From: Chicago and Mt Carroll IL

Damn, sounds to me like the loan advisor left something out of the payment estimator the first time around. You're right on that the new math doesn't make sense.