Purchase Price $400,000
Downpayment – 5% $20,000
3% – 25yr amortization $1,798.33 (PI)
Federal Incentive – 5% $20,000
Reduces Monthly Mortgage $1,703.68 (PI)
Annual Savings $1,135.75 ($28,393.75 over 25yrs)
The incentive will need to be repaid as a percentage of the home’s current value at the time of sale (5% of current value)
Contact me for further information on this valuable Federal First-Time Home Buyer Incentive. Applications must be filed prior to closing.