This does not include insurance or taxes or escrow payments. Monthly Payment the payment amount to be paid on this mortgage on a monthly basis toward principal and interest only. Note that this is the interest rate you are being charged which is different and normally lower than the Annual Percentage Rate (APR). Interest Rate the annual nominal interest rate or stated rate on the loan. Mortgage Term the original term of your mortgage or the time left when calculating a current mortgage Mortgage Amount the original principal amount of your mortgage when calculating a new mortgage or the current principal owed when calculating a current mortgage Mortgage calculator with taxes and insurance. To include annual insurance and taxes in your calculations, use this The financial condition of the North Carolina Housing Finance Agency may have changed since the date this information was prepared.Calculate your monthly mortgage payments on your home based on term of your mortgage, interest rate, and mortgage loan amount. Each viewer of the aforementioned information acknowledges that (i) the North Carolina Housing Finance Agency is not now by this document offering any bonds or other securities, nor soliciting an offer to buy any securities, (ii) this information is not to be construed as any description of the North Carolina Housing Finance Agency-such offerings are only made pursuant to the appropriate official statements of the North Carolina Housing Finance Agency, (iii) the information provided speaks only as of the date thereof and the North Carolina Housing Finance Agency has not in any way undertaken to update such information, and (iv) no representation is made as to the propriety or legality of any secondary market trading of the bonds or other securities of the North Carolina Housing Finance Agency by anyone in any jurisdiction. This information relates to bond issues of the North Carolina Housing Finance Agency that have been sold and distributed in underwritten public offerings described in the related official statements. Under no circumstances shall North Carolina Housing Finance Agency have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any error (on account of neglect or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, transmitting, communicating or delivering this information, or (b) any direct, indirect, special, consequential, or incidental damages whatsoever, even if North Carolina Housing Finance Agency is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information. Because of the possibility of human and mechanical error as well as other factors, this information is provided "as is" without warranty of any kind and no representation or warranty, expressed or implied, is made, nor should any be inferred, as to the accuracy, timeliness, or completeness of this information. Reference should be made to the official statement and operative documents of each series of bonds referred to herein for complete information on that issue. Other loan programs are available including FHA, VA and USDA.ĭepending on the loan type and down payment amount, mortgage insurance may be required which would increase your total mortgage payment.ĭisclaimer (please scroll and read, then proceed below)Īll information contained on the following Web pages is obtained from the Agency’s books and records, and is believed to be accurate and reliable. Why and How to Use Our Mortgage Calculator. Detailed step-by-step instructions follow below for your convenience. Use our simple mortgage calculator NC to evaluate your future monthly expenses. Further review is necessary to obtain an exact qualification. How to calculate mortgage payment in North Carolina. Calculations by this tool are believed to be accurate, yet are not guaranteed. If you invest less than 20 percent down payment in your new home, a monthly mortgage insurance payment will be required, which may increase your total mortgage payment. The sum of your total housing payment (including taxes and insurance) and other monthly debts should be no more than 41 percent of your gross (pre-taxes) monthly income.ĭISCLAIMER: The prequalification figures above are based upon conventional program guidelines.Your total housing payment (including taxes and insurance) should be no more than 32 percent of your gross (pre-taxes) monthly income.Your salary must meet the following two conditions:
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