It's National Openhouse Weekend and I'm promoting a new listing for of one of my West Seattle clients. This townhome is conveniently located in Highland Park at 7705 11th Avenue SW, Seattle and will be open today, Saturday, April 28, 2012 from 11:00 am – 3:00 pm by Wendy Hughes-Jelen of Mountain to Sound Realty. For photos and more information about this property, click here: MLS#349459.
Here are a few financing options based on the list price of $219,950. Rates quoted are as of April 27, 2012 and are based on credit scores of 720 – 739 with closing towards the end of May, just in time to move in for Memorial Day. Home owners insurance is estimated at $50 per month. This is not a condo, so there are no Homeowner Association Dues.
FHA 30 Year with a minimum down payment of 3.5%.
3.750% has a total estimated payment of $1437.04 with funds due at closing in the amount of $8963 including net closing cost, prepaids and reserves (apr 4.728).
Here is a detailed video review of the above quote:
Conventional financing with 10% down payment using private mortgage insurance with debt to income ratios under 45%.
3.875% (apr 4.397) using monthly private mortgage insurance with a total estimated monthly payment (including estimated insurance and taxes) of $1,259.02 and estimated funds due at closing in the amount of $28,478.26.
4.125% (apr 4.465) using split premium mortgage insurance. Similar to FHA, a portion is paid upfront which reduces the monthly premium. I'm pricing this rate slightly higher to create rebate credit to help reduce net closing cost for the buyer of this West Seattle townhome. Total estimated monthly payment is $1,223.22 with funds due at closing estimated in the amount of $27,671.44.
Here is a video where I review both of the 10% down scenarios with private mortgage insurance quoted above:
This is just a small sample of possible mortgage programs for this home. In addition to conventional and FHA financing, the sellers will accept VA and cash.
If you would like me to prepare a personal rate quote based on your scenario on this or any home located anywhere in Washington, please click here.
UPDATE: There will be a Brokers Open (public welcome) this Wednesday, May 9, 2012 from 11:00 am to 1:00 pm at this home.