How much Total for downpayment?

[Tinkrbell]

Can anyone tell me what the current total out of pocket downpayment cost is to get started?

I know there is a $500 dept. due at the time of signing, but how much more after that. And what are the monthly payments?

All based on 150/pts.

Thanks

 

[spiceycat]

if you use Magic beginning and pay 20% down - another 520 - or $1,020 total. If you don't use MB then $2,520 total.

they have 10% down - but the interest rates aren't nearly as good and I don't think you can use MB.

 

[Tinkrbell]

What are the monthly payments?

How long does it take before you are billed monthly? Is it after the deed is recorded or right away?

 

[anniet]

Originally posted by Tinkrbell
What are the monthly payments?

How long does it take before you are billed monthly? Is it after the deed is recorded or right away?

There are variables to consider to get the monthly payments, but there is a calculator at www.bankrate.com that will help you. You need to know how much you are financing and the finance rate.

I believe payments begin after the deed is recorded...we signed last March but the payments didn't start until May.

Good luck!

 

[mamarobin24]

Ours was actually $1260 down, with the $1500 from the Magical Beginnings program. We were told that there's some sort of FL law about putting 10%

BTW, we leavein 4 days, 21hours, 4 minutes and3 seconds.

Cindyellen