I’ve been researching the different US mortgage loans and trying to analyze the best option for my first house hack (FHA & Conventional), but I don’t know how to find accurate placeholder rates

I’ve made a spread sheet to compare and for budgeting FHA and conventional loans for different 30 & 15 year loans, and at different down payments. I’m trying to start budgeting for a purchase one year from now, but I don’t know how I’m suppose to accurately budget if the interest rates, PMI, Insurance are all lender specific. For example, my place holder interest rates for conventional 3%, 5%, 10%, and 20% for 30 year are 5.2%, 5.1%, 4.7%, 4.3%, respectively. I have somewhat decent credit at 696 but will increase a year from now, so I have the placeholder PMI rate at 1.3% of the loan. Again, not sure how accurate these placeholder numbers are, as it calculates the monthly expenses for a 3 bedroom single family house at $375K MV as $1106, $1052, $937, $796 and upfront costs with $6K DPA loan at $14434, $17036, $36531, $74387, all respectively. Please let me know where I am in the ballpark and I’d love insight what I’d be overlooking in my analysis or what the next steps are after I’ve chosen my loan.

submitted by /u/Kockerbocker
[link] [comments]

I’ve made a spread sheet to compare and for budgeting FHA and conventional loans for different 30 & 15 year loans, and at different down payments. I’m trying to start budgeting for a purchase one year from now, but I don’t know how I’m suppose to accurately budget if the interest rates, PMI, Insurance are all lender specific. For example, my place holder interest rates for conventional 3%, 5%, 10%, and 20% for 30 year are 5.2%, 5.1%, 4.7%, 4.3%, respectively. I have somewhat decent credit at 696 but will increase a year from now, so I have the placeholder PMI rate at 1.3% of the loan. Again, not sure how accurate these placeholder numbers are, as it calculates the monthly expenses for a 3 bedroom single family house at $375K MV as $1106, $1052, $937, $796 and upfront costs with $6K DPA loan at $14434, $17036, $36531, $74387, all respectively. Please let me know where I am in the ballpark and I’d love insight what I’d be overlooking in my analysis or what the next steps are after I’ve chosen my loan. submitted by /u/Kockerbocker [link] [comments]

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