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With the FHA 3%
total investment program you can buy a home with a loan amount up to
$154,896.00 in Harris County. FHA only requires a minimum investment
from the buyer of 3% of the sales price and the closing costs and
pre-paids can all be paid through seller contributions and
negotiated in the sales price. Below are a few examples of how it
works:
|
Sales Price |
$85,000 |
$100,000 |
$130,000 |
$160,000 |
|
3% Min. |
$2550 |
$3000 |
$3900 |
$4800 |
|
Monthly Pymt* |
$817 |
$961 |
$1250 |
$1538 |
Interest Rate
APR |
6.0% Rate
6.87% APR |
6.0% Rate
6.87% APR |
6.0% Rate
6.87% APR |
6.0% Rate
6.87% APR |
*Monthly payments
are based on a 6.0% interest rate and an APR of 6.87%.
The monthly payments include property taxes estimated at 3.0% of the
sales
price and hazard insurance estimated at 1% of the sales price.
All rates may vary and are subject to change.
Best of all, the 3% minimum investment can be a gift!
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