Selling Your Home in Elgin
Based on the most recent market data for comparable homes sold in Elgin, we have a range between $285,000 - $310,000.
You can see the analysis here: https://bit.ly/18400-Sun-Haven-Market-Analysis-11-24-24
If you were to sell your home in Elgin for $310,000 right now then I estimate that you would net $138,080 in your pocket at closing.
You can see the seller estimate breakdown here: 18400 Sun Haven Seller Net Estimate
Buying a No HOA home in Round Rock
Now that we have an estimate of what you would net from the sale of your home we can estimate how much of a home Dario can buy on his own using some of the money from the sale of the Elgin home.
The most that Dario could qualify for on his own is about $375,000.
In mortgage, people qualify for the payment & the estimated payment is $2,508.33 based on the following criteria:
- 25% down ($93,750)
- 5.25% on a fixed FHA 30 year mortgage
- Principle & Interest: $1,580.25
- Home owners insurance: $175.00
- Property taxes: $625.00
- Mortgage insurance: $128.08
- 54.29% DTI ratio
- The UFCU debt for $12,438 needs to be paid off before closing
The above scenario assumes we can negotiate enough of a seller credit to cover the point buy down cost to get the 5.25% FHA mortgage rate. The current market rate is 6.95%.
Here are 2 new homes in that area of Hutto I was talking about.
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