Realtors are not a Mortgage Broker or a Bank. They can give you an estimate, but there are many factors to consider by a Lender. Ws, 1 month pay stubs, your Debit to income ratio. These are what lenders look at. What you need to consider is the following if you are looking to purchase. With a 580 or higher you can get a 100 percent loan. 50 does not have MI included. If you go with a FHA loan, FHA has MI included. MI is mortgage insurance in case you default on the loan, it is a way for lenders to have added insurance. There are a lot of factors involved. When you Decide to buy, decide on how much you want to spend, if you want to escrow the taxes and insurance. Now you decided on the price range you are looking into. If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.

The TIL will tell you the terms, rate associated with your loan. NOW TO ANSWER YOUR QUESTION. 01 A MONTH BASED ON A 8 PERCENT RATE. THE RATE WOULD BE HIGHER, OK. THAT IS A GOOD ESTIMATE THAT I DO ON MY CLIENTS. They can be very helpful to determine how much the payments will be. Also, get with a realtor.