Updated over 12 years ago on . Most recent reply
Pre-approved for FHA loan but estimated monthy payment does not sound right
I have been pre-approved for a 100% FHA loan for up to $70,000. It would be 3.5% down, however, the estimated monthly payment she quotes me does not sound at all right. Note: This is a 30 year fixed.
P&I $304.70
Ins 40.00
Tax 95.00
MI 70.00
PITI $509.70 ( principal, interest, taxes, insurance
Are these calculations worth the payment? Is it too much a month and should I look for a different source of loan?