Mortgages

Fico Scores play a big part in your interest rate The rates will change but gives you an idea of how FICO scores come into play. There is a difference of 1.6% in the rates from the top FICO score (above 760) and the bottom (620-640).

So let's calculate the total monthly pament on a 300,000 home with $6,000 annual taxes. 20% down. 3.5% interest rate.

The mortgage is $260K so take 260 x $4.49= $1,167, then add $500 per month for taxes, and $75 for homeowners insurance = $1,742. If the total down is less than 20% we'll have to add mortgage insurance. If it's a condo or townhome we add the monthly association.

Property taxes vary, so keep that in mind on each house.

Interest Rate	Cost per $1,000 on a 30 year mortgage
7.5%	$6.99
7.25%	$6.82
7.125%	$6.74
7%	$6.65
6.75%	$6.48
6.5%	$6.32
6.25%	$6.16
6%	$6.00
5.75%	$5.84
5.5%	$5.68
5.25%	$5.52
5%	$5.37
4.75%	$5.22
4.5%	$5.07
4.25%	$4.92
4%	$4.77
3.75%	$4.63
3.5%	$4.49

About mortgages and your monthly payment.