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THE ECONOMICS OF “THE HOUSE THAT GROWS”

THIS GIVES YOU THE DETAILS OF HOW YOU CAN

AFFORD A 5 BEDROOM, 4.5 BATH HOME FOR $1,100 PER MONTH

In today’s world the uncertain economic conditions has caused a crisis of confidence due to the Banking Industry’s selling homes to families that could not afford the strange financial loans that they have created.  We have designed this home so that the growing family can afford something they will be proud to own, and would like to provide inexpensive housing for parents or young couples that would like to live under the same roof, but want the privacy they deserve, and monthly costs they can afford.  The In-Law Suite allows you to give that privacy, and also to decrease their monthly costs.
  Cumulative Price 3 bdrm 2.5 baths 4 bdrm 3.5 baths 5 bdrm 4.5 bath W/in-law 4 bdrm 3.5 bath W/in-law
BASIC HOUSE with 3 bedrooms, 2.5 baths $329,900 $329,900

$329,900

$329,900

 $329,900
           
EXPAND TO MEET YOUR FAMILIES NEEDS:          
1.  Add an unfinished Attic Space $7,900        
     Finish for a loft Master Bedroom $18,650        
     Finish an oversized Master Bath with $6,850        
     a garden tub in platform shower stall          
     Cost of Expansion $33,400

n/a

$33,400

  

n/a
$33,400
TOTAL COST of 4 bedrooms, 3.5 baths  

 

 $357,450    
           
2. Add and an In-Law-Suite in the lower level with  $50,700    

$50,700

 $50,700
   A large family room, full bath, eating area           
   and large family room. Private entry optional          
TOTAL COST  PER DESIGN   $329,900 $363,300 $414,000 $380,600
           
CASH REQUIREMENT TO PURCHASE          
FHA DOWN PAYMENT (2.2%-3%) ADD CLOSING   $9,900 $11,300 $13,000 $11,600
MORTGAGE 30 YEAR FIXED, ESTIMATE 6%   $320,000 $352,000 $401,000 $369,000
           
MONTHLY MORTGAGE SERVICE OBLIGATION          
MORTGAGE PAYMENT- PRIN. AND INTEREST ($6/M)   $1,920 $2,118 $2,406 $2214
F.H.A. INS. 0.5%   $133 $147 $167 $154
REAL ESTATE TAXES-ESTIMATE   $250 $250 $250 $250
HOME OWNERS INS. ESTIMATE   $50 $50 $50 $50
     Total debt Service per month (=33% of Income)   $2,353 $2,565 $2,873 $2,668
Lower Incomes are possible with lower debt or higher scores   $73,000 $79,300 $88,800 $82,500
Monthly Combined family Income required to qualify   $7,130 $7,773 $8,706 $8,085
Annual combined family Income required to qualify   $85,500 $93,300 $104,500 $82,500
           
ACTUAL CASH OUT-OF-POCKET MONTHLY COST:          
DEBT OBLIGATION   $2,353 $2,565 $2,873 $2668
LESS: DEDUCTION FROM FED. &STATE INC. TAX (33%)   ***-$776 ***-$846 ***-$948 ***-$880
LESS: RENTAL F.M.V. FROM IN -LAW SUITE   $0 $0 -$800 -$800
CASH REQUIRED TO MEET MONTHLY NET COSTS   $1,577 $1,719 $1,125 $988
***Special Note: the ownership of a home allows you to
increase your weekly pay pay filing a new W-4 form
your weekly pay increase would be $194 $208 $234 $220
 
Note: 1. selling price if sold by Co-Op Broker (add 2%)   $336,650 $370,700 $420,000 $388,400
        2.  For sale by our Personnel see above prices  

 

CALL 410-879-4242 FOR COMPLETE DETAILS.

Sales Center:
#1 Rhonda Ct.
Baltimore, MD 21244
work: (410) 879-4242
Fax: (301) 622-3033
Email: SR9889@aol.com