Can you provide me with a close figure for what my PITI would be?

With a purchase price of $420,000, your total PITI payment would be approx. $3578, which is $2861 principal and interest, aprox $194 for MI, approx. $438 for taxes, and approx. $85 for insurance.Marty SternClear Lending707-364-4115

Shellie, Depending on the following items your total monthly payment will can be determined however the Principal and Interest payment for a $410,000.00 Loan at the rate of 3.15% is $1761.92. You must consider the additional items to determine the total monthly payment. 1) Property Tax based on the Location 2) Home owners Insurance 3) Mortgage Insurance if applicable depending your mortgage program.please feel free to call our office if you like additional information.

Much more info needed to answer your question.. First, PITI means, Principal, interest, taxes and insurance.. we have no idea what the taxes and insurance will be unless you have a quote or know the address.. Also, you cannot buy a home for $410K and only put $10,000 down.. Lending rules require that if your are a first time home buyer, you can get by with only 3% down, otherwise, you will need 5%.. that's $12,300 to $20,500. WE would also need to know your credit scores to determine what your interest rate would be as well as the rate for monthly mortgage insurance, which is required if you don't put 20% or more down.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

3.15 is an unusual mortgage rate, possibly you meant 3.125? Slight difference. As others have said, $10,000 is not enough of a downpayment unless it is a VA loan in which case there would be no downpayment requirement. If you know the rate, a great website for figuring payment is www.math.com look for mortgage calculators.

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If you have any further questions as to down payment and closing cost assistance please contact me. We specialize in offering help so that on a home loan of $410,000 you may only have to come up with as little as $1000! There are maximum income requirements. One could make as much as $112,500 in Oakland, for a family of 4 to qualify. You are probably thinking of the least amountof down payment (3%) or around $12,500. If closing/settlement costs average $10,000, including your required tax & insurance impounds, then you have a total of about $22,500 to come in with. With our assistance program we can whittle your requirement down to near $1000 or so! Contact me thru my profile or www.graylending.com. I am in the S F Bay Area.