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Loan Calculator
Loan amount ($):
Interest rate (%):
Term (years):
Additional monthly payment ($):
Monthly payment ($):
Total interest ($):
Average monthly interest ($):
Number of years:

**The above payment is Principal and Interest only.

Typically you will also have monthly real estate taxes           
and homeowners insurance added to your P & I                   
payment. Private Mortgage Insurance (PMI) is also              
included in this payment unless you make a 20 percent       
down payment.

EXAMPLE:  (Based on 150,000 @ 6.5%)

948.10    Principal & Interest
208.00    Property  taxes (2500 yr)
100.00    Homeowners Ins. (1200 yr)
62.50    Mortgage Ins. (PMI) *

1318.60   monthly  payment


*PMI is based on how much your down payment is, your credit             
score and the loan program you qualify for.  
     
Are you wondering:

How much you qualify for?
What will your monthly payment will be?
How much the down payment and closings costs are?
What are the different types of loans and which one is
best for you?
What is the interest rate?

These are some of the questions your mortgage lender will help you with. Getting pre-approved is free and it's a
neccesary step before beginning your home search. Most
sellers today require a pre-approval letter from your lender
before they will accept an offer on their property.

Choosing a lender and filling out a short loan application is all
it takes to get the process started. Typically you will have an
answer within a day or two.

You are free to choose any mortgage lender. If you have no
preference, please select your choice below.

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You Don't Need 20% Down to Buy A Home!

There are a variety of lenders who offer low-interest mortgages to qualified buyers that require a down
payment as low as 3.5% of the purchase price. Place a home under contract by April 30,2010 and close
before July 1st and you could receive up to an
$8000 Home Buyer Tax Credit to qualified Buyers!
Existing Homeowners that have lived in their home at least 5 consecutive years can receive a
$6500 Home Buyer Tax Credit also! There are also down payment and closing cost assistance
programs available to many Texans.
Contact Sherry or your lender for more information.
You could be in your new home soon!
(If you have Microsoft Excel you may fill out an
application online and submit it immediately for a
faster response.)

Bank of America Mortgage
Loan Star Mortgage
Are you a "First Time Home Buyer"?
(Meaning you have not owned a home in the last 3 years)
Contact Sherry today for more information on
loan programs created just for you!



Sherry Burnett
Direct line  (432) 661-7648

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Sherry Burnett
4200 Maple Ave, Odessa Tx 79762
Direct: (432) 661-7648,  Office: (432) 272-4951
Fax: (432) 272-4962
Email:  sherry@sherryburnettodessa.com