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COMPARISON OF LOW / NO DOWN PAYMENT PROGRAMS (Rates as of March 14th, 2004) |
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| 97% LTV Traditional PMI | 97% LTV Reduced PMI | 97% LTV Self-Insured | 100% LTV Traditional PMI | 100% LTV Self-Insured | 103% LTV Self-Insured | |||
| Purchase Price | $150,000.00 | $150,000.00 | $150,000.00 | $150,000.00 | $150,000.00 | $150,000.00 | ||
| Down Payment | $4,500.00 | $4,500.00 | $4,500.00 | $0.00 | $0.00 | $0.00 | ||
| Loan Amount | $145,500.00 | $145,500.00 | $145,500.00 | $150,000.00 | $150,000.00 | $154,500.00 | ||
| Borrower Required Investment | $4,500.00 | $4,500.00 | $4,500.00 | $4,500.00 | $4,500.00 | $0.00 | ||
| Seller Contribution | Up to 3% | Up to 3% | Up to 3% | Up to 3% | Up to 3% | Up to 3% | ||
|
Interest Rate |
5.375% | 5.625% | 6.250% | 5.750% | 7.000% | 7.125% | ||
| Monthly Principal & Interest Payment | $814.76 | $837.58 | $895.87 | $875.36 | $997.95 | $1,010.58 | ||
| Monthly PMI Payment | $109.13 | $67.90 | $0.00 | $120.00 | $0.00 | $0.00 | ||
| Total Monthly Payment | $923.89 | $905.48 | $895.87 | $995.36 | $997.95 | $1,010.58 | ||