SoCal Homes Realtor
Qualify for a $400,000 Home
Are you thinking about Buying a $400,000 Southern California Home?
INCOME NEEDED TO QUALIFY for $400,000 home
* Property Value $400,000.00
W-2 income of $9,515 to $11,418 Monthly Income Needed
* Down Payment $14,000.00
* Loan Amount $386,000.00
*Based on Interest Rate of 5.500%
* Closing Costs are approximately $12,000 - $32,000 in addition to the
*Credit score minimum 640.
* Monthly Payment
* Principal & Interest $2,191.67
* Monthly Taxes $800.00
* Monthly Hazard Insurance $125.00
* Monthly Mortgage Insurance $308.80
* Total Mortgage Payment $3,425.47
* Annual Percentage Rate 5.031%
Minimum required money in the bank for a 60 day period,
not less than $26,000.
W-2 Income Needed $9,515 to $11,418
Allowable Debt Payments $685.09
This is an average and not a quote.
So Cal Homes Realty is not a lender.
The data above is provided for information only.
Check Local Mortgage Rates with an approved direct lender such as these:
Local Lenders. Be careful, most lenders fail to allow for "closing costs".
"Qualify For A Southern California Home"
Closing costs on average are around
3% - 8% of the purchase price in addition to the down payment!
Determine the area in which you want to live and do a home search.
E-mail address list of houses you wish to see, along with your contact information.
See homes with Harold. Select the home you would like to buy.
Use Home Search Page to establish reasonable price, based on comps.
Make an offer to purchase the home you want to buy!
Buyers, seeing houses for sale, is an e-mail away.
E-mail or call if you have Real Estate questions.
If you are serious about buying a home, find out how much home you can afford with
this easy to use mortgage calculator.
CALIFORNIA DEPARTMENT OF REAL ESTATE LICENSE 01312992