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Oscar Said:

How did they come up with this monthly mortgage?

We Answered:

You are right, according to the ad, this house would have a loan value of $158,424.176. Add in the 3.5% down payment and you have a purchase price of $164,174.00.
Maybe it is a typo, if not, then it is deceptive advertising

---Thirstquencher Nice itemization, but the property tax rate in that area is at the very most 1.5%.
That got me thinking.... maybe loan origination fees of around 1.2%?

Tamara Said:

Mortgage Question???

We Answered:

I DO NOT HAVE PMI OR MI ON MORTGAGE (not sub prime loans either)
IF YOUR CREDIT SCORE IS ABOVE 700 YOU ARE RIGHT THE RATE TODAY IS 6% PLEASE EMAIL IF YOU HAVE ANY QUESTIONS AT JOHNG@OLDMERCHANTS.COM