When The Same Loan Amount Equals Different Payments
If you are out shopping for a home then you will want to listen to this episode!
Let’s just say you have a pre-approval for $500k and are doing 20% down. Loan amount of $400k.
In this episode, I explain how the same loan amount can equal much different monthly payment amounts.
Here is a short test case.
1st $500k house. Built in 1926, in a flood zone, roof is 20 years old, has a pool, 2 floors, wood frame and is nowhere near a fire hydrant. You can imagine how much the flood and homeowners insurance will cost on that house.
In Florida that flood would be between $3k-$7k and the homeowners would be the same or more.
2nd $500k house. Brand new construction. 3/2 no pool and not in a flood zone. Insurance companies love this house!
Flood is zero and homeowners would be less than a $1K
You are looking at a swing of $6k-$15k a year or more between the two houses.
Just keep an eye on this and I go into more detail with the episode.
I do Mortgages for a living, if I can ever help you buy or refinance a home let me know!
• Apply for a mortgage now https://myvandyk.vandykmortgage.com/dr/c/qojpr
• TEXT “APPLY” to 239-437-4278
• Call me or text me 239-910-5668
• Talk to my team were here to help! 239-437-4278
• Check out my website www.TimHartJr.com Connect with me on Social Media Instagram - https://www.instagram.com/timhart453/?hl=en Facebook - https://www.facebook.com/TimHartJrLinkedIn - https://www.linkedin.com/in/timhartjr/
Popular Podcasts
Bookmarked by Reese's Book Club
Welcome to Bookmarked by Reese’s Book Club — the podcast where great stories, bold women, and irresistible conversations collide! Hosted by award-winning journalist Danielle Robay, each week new episodes balance thoughtful literary insight with the fervor of buzzy book trends, pop culture and more. Bookmarked brings together celebrities, tastemakers, influencers and authors from Reese's Book Club and beyond to share stories that transcend the page. Pull up a chair. You’re not just listening — you’re part of the conversation.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com