When using the calculator, remember that there are many loan programs available. Loans vary in several ways including down payment, interest rate and length of the loan.
There are loans available that require 0% down, such as the USDA or Rural Development Loan, FHA loans only require 3.5% down and other programs that require 5-20% down.
You may find interest rates as low as 3% or upwards as high as 10%. These rates also correlate to the length of the loan as there are 3-year adjustable rate loans up to 30 or 40-year fixed rate loans.
Be sure to consult with a loan officer to find a program that is right for you. If you would like a referral to a recommended loan officer, just ask!
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