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 | | | | | | | | | Contact Us Today to Schedule a Showing On-site Office: (608) 692-6396
Agent's Office: Lee Real Estate (608) 692-6396 |
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For the purposes of this model we used The Cypress 1 Bedroom, 1 Bathroom |
Renting:
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Purchase Price:
- $0
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Down Payment:
- $0
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Mortgage Amount:
- $0
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Principal Paid:
- $0
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Interest Paid:
- $0
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Taxes Paid:
- $0
-
Condo Fees Paid:
- $0
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Total Payment:
- $950
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Net Monthly Payment:
- $950 Per Month
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Owning:
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Purchase Price (2 Bedroom):
- $164,900
($5,000 Price Reduction) ($4,797 3% Incentive) = $155,103
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Down Payment:
- $7,755
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Mortgage Balance:
- $147,348
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Principal Paid:
- $166
- Interest Paid:
- $657 *Tax Savings: $117
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Taxes Deduction Saving:
- ($242 *Tax Deduction Savings, 21% Tax Bracket)
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Condo Fees Paid:
- $218
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Insurance:
- $20
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Total Payment:
- $1,320 *Total Tax Savings: $242
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*3% Annual Appreciation:
- .02 x 164,900 = $3,298 per year.
- Monthly Appreciation:
- $3,298 / 12 = $275 per month
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Net Monthly Payment:
- $1,320
*($242) Total Tax Savings *($275) Monthly Appreciation $803 Net Monthly Payment
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*Tax savings base on 21% tax bracket.
*Appreciation is not guaranteed, 2% is a conservative average in Dane county for the past few years.
*Personal Mortgage Insurance (PMI) is a fair estimate
(These figures are merely one possible scenario and should not be construed as an exact result)
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