Your monthly mortgage payments are determined by how
much you borrow and the interest rate assigned to our mortgage. The
amount you are able to borrow and the rate you qualify for
are decided by many different factors.
Your interest rate depends on your credit score, the
discount points you pay and whether you pay less than 20% down. The
loan amount you qualify for depends on the home's value and the size
of the down payment you make.
If you put less than 20% down on the purchase of the
property, you will be required to pay for private mortgage insurance
each month.
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