Determining monthly mortgage payment?
I am in the preapproval process for a mortgage loan. I have sent in all my documents, W2 statements, paystubs, employment verification, etc.. Still waiting for a preapproval letter. Found a home I am highly interested in making an offer for. Can anyone tell me what my approx monthly cost would be on a home for $175k with 5% interest rate. I will be putting down 3.5% as this will be through an FHA loan. Annual taxes would be approx $4500. Any help would be great. Thanks!
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