[quote=livinincali]For an FHA loan you have to add in the 1.25 purchase price Mortgage Insurance Premium which amounts to another $400/mo for a $410K loan. Still less than $3000/mo but awfully close.[/quote]
I use absolute mortgage to get the quick number. They didn’t say it’s a FHA loan. Just a 30 Year Conforming Fixed and their monthly payment is around $1800. I’m guessing they didn’t add PMI either. You’re right, if it’s FHA, then you have to add MIP. I don’t know how much those are, so I’m not going to guess. Also, it’s $390k loan, since he’s putting down 5%. AIMLOAN also have a few 30 years program without PMI through Homepath or upfront PMI: https://aimloan.mortgagewebcenter.com/CheckRates/GreatRates.asp?PID=23&r=1
