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I had a pre-qualification check done, and now I'm a little confused. I was approved for 3.78 credit

I keep seeing different monthly price estimations for homes.  I was told that these prices don't include mortgage taxes and insurance.  It is sort of confusing.  What would a $200,000 home cost in Little Rock, AR?
  • June 25 2010 - Otter Creek Crystal
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Answers (2)

  • June 25 2010
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The rate you reference that you were prequalified for is either a 15 Year Fixed or 5/1 Arm. If you are looking at listings on Zillow they will show a mortgage payment but that payment could be way different than your payment due to down payment, credit score, mortgage insurance, loan term, etc. You should go back to whomever gave you the prequal and give them the sales price and down payment amount, then you can get a monthly estimate based on your circumstance.
  • June 25 2010
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