Tax Allocation District (TAD) Mortgage Payment Calculator
ENTER Market Purchase Price 1 ENTER Number Of Bedrooms
TAD Sales Price
2
$250,000 1 $144,000 $106,000 $10,000
TAD Subsidy 3 ENTER Additional Downpayment Assistance
MORTGAGE LOAN AMOUNT
Interest rate (in percent) Length of loan (in years) Principal and Interest Taxes
4 5
$134,000
6.25 30 $825.06 $364.58 $240.00
6
Homeowner Association Fees
YOUR TOTAL MONTHLY PAYMENT IS YOUR TOTAL COST OVER THE LENGTH OF YOUR MORTGAGE IS
$1,429.64 $524,671.98
1 2
Market purchase price can be no more than $299,475. $144,000 for a one bedroom home; $155,000 for 2 or more bedrooms 3 TAD subsidy is the market purchase price minus the TAD Sales Price 4 Taxes are 1.75% of the market purchase price (divided by 12 months). 5 Based on $0.30 per square foot (800 square feet - 1 bedroom, 1,100 square feet - 2 or more bedrooms) 6 Total cost includes monthly payments over the expected life of the mortgage. Note: These calculations are only estimates and are not a substitute for a good faith estimate based on a specific loan application. Please see a loan officer or mortgage consultant to obtain specific information. Factors such as credit history, appraisals, and loan origination fees affect mortgage calculations. For more information on the home mortgage process, including your rights to fair lending, go to http://www.federalreserve.gov/Pubs/mortgage/morbro.HTM