COMMUNITY
North Bend
Arrive in the century-old city of North Bend after crossing the historic mile-long Conde B. McCullough Memorial Bridge. Downtown has scores of art galleries and antique and novelty shops. Enjoy some of the region’s best art displays during Art Walks, held on the second Thursday of each month. For live entertainment, Little Theatre on the Bay, the longest-running community theater in Oregon, and the Waterfront Playhouse perform full-length production’s. Also, check out the town’s restaurants and eateries. The crabbing and fishing are great. There is nothing like the beach and dunes.
Coos Bay
Through natural growth Coos Bay has become the largest city on the Oregon Coast. Coos Bay offers a boardwalk, live theater, and international port and a variety of lodging and dining experiences. Downtown Coos Bay has a visitor information center, Coos Art Museum, Egyptian Theater, several restaurants and novelty shops.
Each March the jazz festival attracts groups from around the country, each July the Oregon Coast Music Festival brings outstanding musicians together for a series of performances, and in September, the Bay Area Fun Festival includes the Prefontaine Memorial Run and the classic car Cruz the Coos and Show & Shine. These are just a few of the festivals and activities held throughout the year.
LINKS
Home Construction Financing Guide
financing map
calculators
qualifying ratios
view-negotiate rates
about bank equity
other financing tools
rate shopping sheet
compare lenders
Definitions
- Price of home
- Purchase price of the home you wish to buy.
- Cash on hand
- Cash you have for the down payment and closing costs.
- Interest rate
- The current interest rate you can receive on your mortgage.
- Term in years
- The number of years over which you will repay this loan.
- Property tax rate
- Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.
- Home insurance rate
- Your homeowner’s insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner’s insurance.
- Loan origination rate
- The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.
- Points paid
- The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.
- Other closing costs
- Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.
- Association and maintenance fees
- Any association fees you are required to pay with the ownership of this home. Also include any other maintenance costs you expect to incur with the ownership of this home that you are not paying while you continue to rent.
- Total for down payment
- Total funds remaining for down payment.
- Mortgage amount
- Total amount of loan.
- After-tax investment return
- The rate of return, after taxes, you could receive if you invested your closing costs and down payment instead of purchasing a home.The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2006, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.5% per year (source: http://www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less.It is important to remember that future rates of return can’t be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect additional sales charges and fees that funds may charge.
- Monthly rent payment
- Amount you currently pay for rent per month.
- Income tax rate
- Your current marginal income tax rate.
- Expected inflation rate
- What you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2006. Inflation rate is used to adjust amounts subject to annual increases. These amounts include rent, insurance and tax payments.
- Home appreciates at
- Annual appreciation you expect in the home you are purchasing.
- Future sales commission
- The percent of your home’s selling price you expect to pay to a broker or real estate agent when you sell your home.
- House payment
- Total of principal, interest, taxes and insurance (PITI) paid per month for your home. Insurance includes Principal Mortgage Insurance (PMI) and homeowner’s insurance.
- Principal payment
- Total of principal paid per month on your mortgage.
- Tax savings
- The value of the tax deduction you receive on your mortgage’s interest and home’s property taxes. For example, if you have $900 in interest and $100 property taxes per month, the value of the tax deduction would be $250. (At a tax rate of 25%).
- Net house payment
- Your house payment minus the value of the tax deduction and principal payment.
- Net home price
- Net selling price of your home after subtracting any sales commissions.
- Monthly PI
- Monthly principal and interest payment.
- Monthly PMI
- Monthly cost of Private Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year.
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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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