| Loan Amount: |
Money borrowed that is usually repaid with interest. |
 |
| Interest Rate: |
The amount of interest charged on a monthly loan payment; usually expressed as a percentage. |
|
| Points: |
A fee imposed by a lender to cover certain processing expenses in connection with making a real estate loan. Usually a percentage of the amount loaned, such as one percent. |
|
| Loan Term: |
The number of years required to pay off the principal and interest of the loan. |
|
| Month of Purchase: |
The month where you are expected to take ownership of the property. |
|
| Filling Status: |
Your civil status |
|
| Tax Rate: |
The income taxes you pay expressed as a percentage of your gross income. |
|
| State Tax Rate: |
The state income taxes you pay expressed as a percentage of your gross income. |
|
| Real Estate Taxes: |
Deductible real estate taxes include any state, local, or foreign taxes on real property levied for the general public welfare. Deductible real estate taxes do not include taxes charged for local benefits and improvements that increase the value of the property. |
|
| Other Deductions: |
Any deductions than can be used against your income such as interest charges on loans secured by your residential property. |
|
