- This topic has 4 replies, 2 voices, and was last updated 10 years, 1 month ago by Anonymous.
- May 5, 2011 at 8:32 pm #206198AnonymousInactive
With the current lending standards, i’m wondering if the same applies to HUD homes. I live in texas and found a hud home that’s listed for $95,000. My credit score is about a 620 which i know is horrible. Is it possible to qualify for a loan and about how much would our payments be?
- June 10, 2011 at 2:38 am #432902AnonymousInactive
1% = $ 950, so 8% = $ 7,600 annually. Divide by 12 to get a month’s interest.
- June 10, 2011 at 2:38 am #432903AnonymousInactive
- June 10, 2011 at 2:38 am #432904AnonymousInactive
the interest on a mortgage is not the same every month – close but not the same…
at the beginning of the mortgage we are paying more for interest and less for principle – as the mortgage matures the amount applied to interest becomes less and the amount applied to the principle increases
- June 10, 2011 at 2:38 am #432905AnonymousInactive
8/100 * 95000 = 7600
$ 7600 is annual interest amount.
for a month, 7600/12 = 633.33
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