Somewhat Dream Home
My name is Individual Number 10. I am 28 years old and i am the manager of a social media website. My annual income is $105,000 and pay $1000 a month in debt. I also own 2 cats. Im looking for a new home with a deluxe chefs kitchen, entertainment room, pool and I only want to pay a $15,000 down payment.
Loan Option 1
One option I could potentially qualify for is a 15 year loan at 3.442% interest.
Loan option 2
15 Year Plan
The second option I could potentally qualify for is a 30 year loan at 4.238% interest.
This option gives me a total monthly debt of $2,929.27 which is only 33.47% of our monthly debt.
For the 15 year plan the otential lian amount i can qualify for falls in the range of $301,950.3 to $326,527.66.
With the 15 year loan I pay $76,317.99 in interest, with a monthly mortgage payment of %1,929.20.
For the 30 year plan the loan amount falls in between $437,670.05 to $473,294.36.
With the 30 year plan I will pay $208,213.25 in interest and a monthly mortgage payment of $1,331.1.
30 Year Plan
This option give me a total monthly debt of$2,331.1 which is only 26.64% of my monthly debt.