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Chicagoland2to4Flats.info LOAN PROGRAM and
RATE calculator
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FOR N O N - O W N E R - O C C U P I E D PROPERTY
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Purchase Price:
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Enter the price, taxes, and
insurance and you will see many loan options self-populate!!! The payments
shown assume a 80% 1st mortgage with a 2nd mortgage where needed to avoid
PMI. You may be surprised (and pleased) to see how easy it is to go with little
or no down payment!!!
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Taxes:
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per year
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Insurance:
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per year
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A loan officer can explain the different
elements of the chart to you. The rates shown on this chart are are SAMPLES
of some commonly available, current rates and assume a good FICO score (700+)
and fully-documented income; the actual rate you will qualify for may be
different (based on credit score, loan size, income/debt ratios, and other
factors). What you see here are common loan options--and there are others to
consider.
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These rates were current as of 05/01/06.
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2 - F l a t s
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1st Mortgage
(I.O. stands for Interest Only)
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2nd Mortgage
30-yr Fixed or Home Equity Line of Credit (HELOC)
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Common Loan Options:
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Total
Monthly Payment
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Amort-
izes in:
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Sample
Rate:
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(APR)
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0% down
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2- or 3-yr ARM
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$3,706.74
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I.O.
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7.431%
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30 yr
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2- or 3-yr ARM
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$3,895.54
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30 yr
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7.308%
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5-yr ARM
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$3,706.74
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I.O.
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7.431%
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5% down
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2- or 3-yr ARM
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$3,372.06
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I.O.
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7.431%
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30 yr
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2- or 3-yr ARM
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$3,560.86
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30 yr
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7.308%
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5-yr ARM
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$3,372.06
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I.O.
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7.431%
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10% down
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2- or 3-yr ARM
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$2,626.40
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I.O.
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7.054%
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Interest Only
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2- or 3-yr ARM
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$2,863.20
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30 yr
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6.932%
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5-yr ARM
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$2,626.40
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I.O.
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7.180%
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20% down
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2- or 3-yr ARM
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$2,265.60
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I.O.
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7.054%
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Not necessary
with 20% down
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2- or 3-yr ARM
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$2,502.40
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30 yr
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6.932%
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5-yr ARM
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$2,265.60
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I.O.
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7.180%
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3 - a n d
4 - F l a t s
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1st Mortgage
(I.O. stands for Interest Only)
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2nd Mortgage
Home Equity Line of Credit (HELOC)
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Common Loan Options:
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Total Monthly
Payment
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Amort-
izes in:
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Sample
Rate:
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(APR)
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5% down
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2-
or 3-yr ARM
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$3,727.77
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I.O.
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7.682%
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30 yr
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5-yr ARM
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$3,838.80
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30 yr
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7.559%
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10% down
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2- or 3-yr ARM
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$3,227.20
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I.O.
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7.305%
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Interest Only
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5-yr ARM
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$3,483.20
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30 yr
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7.308%
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20% down
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2- or 3-yr ARM
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$2,265.60
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I.O.
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7.180%
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Not necessary
with 20% down
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2- or 3-yr ARM
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$2,502.40
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30 yr
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6.932%
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5 -yr ARM
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$2,265.60
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I.O.
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7.054%
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We thank A
and N Mortgage Services, Inc, an Illinois Mortgage Licensee located at 1535 N
Dayton, Chicago, IL 60622, for this rate information; please contact Susie Cohn (phone:
312-543-2438, fax: 312-664-5831). There are, of course, other loan programs
not shown here. For insurance, we show $1,800.00 as an estimate--you must
speak with an insurance agent to get get a more precise figure. © 2005. All
Rights Reserved.
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