Let’s break it down:
- Loan Amount: $300,000
- Interest Rate: 7% (fixed)
- Term: 30 years
Using a standard mortgage formula, your monthly principal and interest payment would be roughly $1,996 per month.
💡 Keep in mind:
- This does not include property taxes, homeowners insurance, or HOA fees, which can increase your total monthly payment.
- Your down payment, credit score, and lender programs can affect your rate, which may lower your payment.
- First-time buyer programs and grants (like TSAHC or local city grants) could reduce the amount you need to finance, saving you hundreds per month.
At Trealtorr, we help you:
- Calculate your exact monthly payment
- Explore grants and first-time buyer programs
- Match you with lenders offering the best rate for your situation
📲 Call or text us today at +1 (347) 831-6085 — let’s see what your real monthly payment could be and get you into your first home!