North Conway NH Real Estate News, 287 West Main Street in Conway, NH

287 West Main Street in Conway, NH

I have a listing at 287 West Main Street in Conway, NH and I had a local lender work out a few scenarios regarding different financing and what the mortgage payment would be for each of the scenarios.

If you qualify for a USDA Rural Development loan (first time homebuyer, maximum earnings limit for Carroll County and minimum credit score) at the listed price of $89,900 your principal, interest, insurance (total mortgage payment) would be $680.48 a month.* $680.48 is less than the average rent in this area. And you would be building YOUR OWN equity not helping your landlord build his or hers. If you were able to get the seller to contribute some money to your closing costs and prepaids, you could be buying a house today with very little or no money down. Think about that.

If you didn’t qualify for Rural Development and instead opted for a FHA loan your total payment would be $702.10.* (FHA requires 3% downpayment).

If you were looking for an affordable vacation home and were not going to occupy this little gem, your mortgage payment would be $563.81.*

If you never thought you could own a home because you hadn’t researched it, now is the time to call and find out. I can be reached at (603) 520.8546.

For more details on the home, as well as photographs, go to www.donnabossie.com/pages/287_west_main_st_conway_nh and email me after you check it out.

Donna

*Calculated to include prepaids based on 15 days interest, 6 mos taxes, 15 mo hazard insurance and no mortgage insurance if it applies. The above are estimates and not to be construed as exact quotes, but a reasonable approximation, as of 2/1/2011 from Regency Mortgage.

Donna Bossie services the real estate needs of clients in North Conway NH as well as the following communities in the White Mountains area of NH: