| 50 Percival St. Opportunity Analysis | |||||||||||
| SALE PRICE | $189,900 | SALE PRICE | $189,900 | SALE PRICE | $ 189,900 | ||||||
| 5% DOWN PAYMENT | 7% DOWN PAYMENT | 20% DOWN PAYMENT | |||||||||
| Financing | |||||||||||
| Cash required for down payment | $ 3,995 | Cash required for down payment(Fleet) | $7,593 | Cash required for down payment | $30,980 | ||||||
| $5,000 second mortgage* | $ 5,000 | $5,000 second mortgage* | $5,000 | $5,000 second mortgage* | $5,000 | ||||||
| 5% DOWN PAYMENT | $ 8,995 | 7% DOWN PAYMENT | $12,593 | 20% DOWN PAYMENT | $35,980 | ||||||
| First Mortgage | |||||||||||
| loan amount | $170,905 | loan amount | $167,307 | loan amount | $ 143,920 | ||||||
| Loan To Value (LTV) of1st mortgage | 95% | LTV of 1st mortgage | 93% | LTV of 1st mortgage | 80% | ||||||
| interest rate | 7.25% | interest rate | 7.25% | interest rate | 7.25% | ||||||
| term in years | 30 | term in years | 30 | term in years | 30 | ||||||
| monthly payment | $(1,231) | monthly payment | $(1,205) | monthly payment | $(1,036) | ||||||
| Second Mortgage* | |||||||||||
| loan amount | $5,000 | loan amount | $5,000 | loan amount | $5,000 | ||||||
| interest rate | 7.00% | interest rate | 7.00% | interest rate | 7.00% | ||||||
| term in years | 30 | term in years | 30 | term in years | 30 | ||||||
| monthly payment | $(33) | monthly payment | $(33) | monthly payment | $(33) | ||||||
| Other Estimated Expenses | |||||||||||
| Taxes & Insurance | $(100) | Taxes & Insurance | $(100) | Taxes & Insurance | $(100) | ||||||
| Private Mortgage Insurance (PMI) | $(117) | PMI (Fleet 1st time homebuyers program) | 0 | PMI | 0 | ||||||
| Condo Fee | $(125) | Condo Fee | $(125) | Condo Fee | $(125) | ||||||
| TOTAL OPERATING EXPENSES | $(342) | TOTAL OPERATING EXPENSES | $(225) | TOTAL OPERATING EXPENSES | $(225) | ||||||
| First & Second Mortgages | $(1,264) | First & Second Mortgages | $ (1,238) | First & Second Mortgages | $(1,070) | ||||||
| TOTAL MONTHLY EXPENSE +utilities | $(1,394) | TOTAL MONTHLY EXPENSE +utilities | $ (1,261) | TOTAL MONTHLY EXPENSE +utilities | $ (1,121) | ||||||
| Estimated Value of Tax Deduction | $ 60 | Estimated Value of Tax Deduction | $ 55 | Estimated Value of Tax Deduction | $ 45 | ||||||
| Principal Pay Down | $ 175 | Principal Pay Down | $ 171 | Principal Pay Down | $ 147 | ||||||
| ANNUALIZED MONTHLY COST | $(1,371) | ANNUALIZED MONTHLY COST | $ (1,237) | ANNUALIZED MONTHLY COST | $(1,103) | ||||||
| MONTHLY COST OF SIMILAR RENTAL | $1500-1800 | MONTHLY COST OF SIMILAR RENTAL | $1500-1800 | MONTHLY COST OF SIMILAR RENTAL | $1500-1800 | ||||||
| *Interest only 5yr. balloon payment. For marketing purposes only.All numbers are estimated. | |||||||||||