Case Study
Actual Cost of House (Current) = Sales Price- Seller Concession - 3 Year Buy Down Saving = $535,000-$30,000-$23,040 =
$ 481,960 *(4)
| Buy Down 3-2-1 Year by Seller Concession (2) | ||||
|---|---|---|---|---|
| Interest Rate | Mortgage Payment (P+I) | Monthly Savings | Yearly Savings | |
| 1st Year | 3.75% | $2,354 | $943 | $11,316 |
| 2nd Year | 4.75% | $2,651 | $646 | $7,752 |
| 3rd Year | 5.75% | $2,966 | $331 | $3,972 |
| 4th Year to 30 Year | 6.75% | $3,297 | $- | $- |
| TOTAL Saving | $23,040 |
Actual Cost of House (Current to 3 Years) = Sales Price - Total Savings = $535,000 - $39,564 =
$ 495,436 *(5)
| Owner Finance | Conventional Loan | Saving | ||||
|---|---|---|---|---|---|---|
| Interest Rate | Mortgage Payment | Interest Rate) | Mortgage Payment | Monthly Savings | Total Savings | |
| 1st Year | 3.50% | $1,922 | 6.50% | $3,021 | $1,099 | $13,188 |
| 2nd Year | 3.50% | $1,922 | 6.50% | $3,021 | $1,099 | $26,376 |
| 3rd Year | 3.50% | $1,922 | 6.50% | $3,021 | $1,099 | $39,564 |
Here’s an example of the Purchase with
Owner Finance, Conventional Loan, FHA Loan, Investment Loan, Buy Down:
| Loan Type | Owner Finance *(1) | Conventional *(1) | Primary Resident *(1) | Rental Property *(1) | Private Investor *(1) | FHA or Conventional *(1) | Buy Down/ 1st Year *(2) |
|---|---|---|---|---|---|---|---|
| Cash Down | 20% Down | 20% Down | 20% Down | 20% Down | 30% Down | 5% Down | 5% Down |
| Sales Price | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 |
| Appraisal Value | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 |
| Actual Cost of House (Current) | $495,436 *(5) | $535,000 | $535,000 | $535,000 | $535,000 | $535,000 | $481,960 *(4) |
| Down Payment | $107,000 | $107,000 | $107,000 | $107,000 | $160,500 | $26,750 | $26,750 |
| Loan Amount | $428,000 | $428,000 | $428,000 | $428,000 | $374,500 | $508,250 | $508,250 |
| Interest Rate | 3.50% | 6.50% | 8.00% | 9.50% | 6.95% | 5.85% | 6.750% |
| Term | 30 Year Fixed | 30 Year Fixed | 30 Year Fixed | 30 Year Fixed | 30 Year Fixed | 30 Year Fixed | 30 Year Fixed |
| Closing | Within 1 to 2 Weeks | Take 4 to 6 Weeks | Take 4 to 6 Weeks | Take 4 to 6 Weeks | Within 2 to 4 Weeks | Take 4 to 6 Weeks | Take 4 to 6 Weeks |
| Credit Score | No Need | Minimum FICO 680 | Minimum FICO 680 | Minimum FICO 680 | Minimum FICO 680 | Minimum FICO 620 | Minimum FICO 620 |
| Owner Type | Primary Resident | Primary Resident Only | Primary Resident Only | Primary Resident Only | Primary Resident Only | ||
| or Investment Property | Only Investment Property | Only Investment Property | |||||
| Document Request | No Need | Tax Return | Bank Statement or VOE | Bank Statement or VOE | No Need | Tax Return | Tax Return |
| Refinance | Any Time | Any Time | Any Time | 1/2/3 Prepaid Penalty | Any Time | Any Time | Any Time |
| Borrower Type | Foreigner OK | Only US Citizen, Green Card | Only US Citizen, Green Card | Foreigner OK | Only US Citizen, Green Card | Only US Citizen, Green Card | Only US Citizen, Green Card |
| Mortgage + Interst Payment | $1,922 | $2,705 | $3,140 | $3,599 | $2,479 | $2,998 | $2,354 |
| Mortgage Insurance | $- | $- | $- | $- | $- | $210 | $80 |
| Home Owner Insurance & Tax *(3) | $639 | $639 | $639 | $639 | $639 | $639 | $639 |
| Total Monthly Payment | $2,561 | $3,344 | $3,779 | $4,238 | $3,118 | $3,847 | $3,073 |
Here’s an example of the Cash Out Refinance with
HELOC Interest Only and a Regular 2nd Loan:
| Property Value | Mortgage Amount | LTV/CLTV | Interest Rate | Monthly Payment* | Cash Out | Note | |
|---|---|---|---|---|---|---|---|
| Current Mortgage | $1,322,000 | 3.50% | $5,936.37 | ||||
| 2nd Loan Only (30yr Fixed) | $2,193,264 | $432,611 | 60/80 % | 11.25% | $4,201.78 | $432,611 | |
| TOTAL Mos Payment | $10,138.15 | ||||||
| Current Mortgage | $1,322,000 | 3.50% | $5,936.37 | ||||
| HELOC I/O | $2,193,264 | $250,000 | 60/72 % | 9.50% | $1,979.17 | $250,000 | I/O 10 years |
| TOTAL Mos Payment | $7,915.54 | ||||||
| 2rd Loan Only (30yr Fixed) | $2,582,130 | $743,704 | 80% | N/A | |||
| New Mortgage (30 Year Fixed) | $2,193,264 | $1,754,611 | 80% | 6.88% | $11,526.55 | $432,611 | $22K DP Need to Pay |
| New Mortgage (10/6 ARM) | $2,193,264 | $1,754,611 | 80% | 7.00% | $11,673.47 | $432,611 | $10K DP Need to Pay |
| New Mortgage (30 Year Fixed) | $2,582,130 | $2,039,883 | 79% | 8.00% | $14,967.94 | $717,883 | Property Value could be higher. DP $31K |
*Please Note: Not a loan commitment or an offer to enter into an interest rate or discount point agreement and any such agreement may only be made in writing signed by both the borrower and the lender. Future Mortgage and Investment LLC reserves the right to change or cancel this offer without notice. Subject to applicable laws and regulations. This is not an offer in states where prior registration is required and is void where prohibited by law. Assumption was made based on 720 FICO Scorre, Full Documents, DTI is less than 45%, Discount Point might charged upon lock the rate. 1/11/2023 price only. Jumbo Loan could be.25 to .50% higher than FHA or others.
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Disclaimer: This is an offer to receive more information, this is not a commitment to lend. Not all applicants will qualify automatically. For Loan Approval, additional information and documentation is needed, including but not limited to, satisfactory verification of income and assets, plus additional documentation to support creditworthiness. Some Private Investor's decisions will be great potential to get a loan or sell in any condition. This is an advertisement. The information on this site is general and your situation may vary.
20년 이상 고객의 편에서 정직하고 명쾌한 융자로 고객의 재산 보호와 증식에 앞장선 김명선 융자팀에서 이민 생활에 큰재산증식과 재도약의 기회를 잡으셔요~
Future Mortgage and Investment LLC
(그명성 그대로, 김명선 융자팀)
NMLS # 1911938
1110 Satellite Blvd Ste 302 Suwanee, GA 30024
770-242- 3413 (Text First and Call), 770-67 9-8595 (Fax)
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