Does the math make sense to y’all?

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Why don’t you just ask the loan officer?

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😂

Maybe just type it in a mortgage calculator on google to confirm.

What program is this by the way?

1st home down payment assistance nc

I got 1600 when I typed it into multiple calculators and chatgpt

Lol SM1, this place is not sliding much in value anytime soon, u can’t start making those kinda suggestions without knowing the property. It’s 4 br, and I’m house hacking. Avg rent for a studio is 1600 in this area. It just needs some talc, which is where my cash is going.

This math loosely makes sense…you’re getting like, a 3% loan to pay for the down payment on the 30 year? Something like that?

What math are you asking about specifically?

You’re right pwc lol

What is your question? Lol I do mortgages but what part is confusing you?

I thought the combined monthly payment was just P+I, but because it’s under 20% I have to pay mortgage insurance until equity gets to 20%

No it does not. What bank is giving you an interest free loan for a 3% downpayment and then a 6% 30 year fixed? None of this makes sense. I dont think you are ready to buy a house.

Oh ok lol

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