VS. 1525 Coleman Price No Down Payment Mercer Pays It! You Get a Raise Don't Pay State Tax (10 yrs.) Your Taxes Decrease Property Taxes Frozen (8.5 yrs.) You Save 10-year Total
Monthly True Cost
Any Other Home
$135,000.00
$135,000.00
-$20,000.00
-$4,725.00
$2,459.00
$0.00
-$965.00
-$2,261.00
$35,000.00
$0.00
$535.00
$1,163.00
FOR SALE Call (478) 318-1809 info@historicmacon.org
Disclaimer: Tax savings assumes net household income of $42,000 per year. Historic Macon Foundation does not guarantee that you qualify for all incentives. Consult your tax professional or have her or him call our office for more details. See back for calculations.
1525 Coleman Ave. Finished Value: Down Payment (3.5%): Mercer Stipend: Loan Amount: Interest Rate: Loan Term: Monthly Mortgage:
Year 1 2 3 4 5 6 7 8 9 10 Totals
$135,000.00 $4,725.00 $15,275.00 $115,000.00 5.00% 30 $617.34
Pre-rehab tax value: Pre-rehab yearly tax: Eligible rehab expense: Credit value:
With Credits Mortgage Property Tax State Income Tax $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $964.98 $7,408.14 $1,613.32 $7,408.14 $2,261.67 $74,081.38 $11,594.81
With Credits and Stipend Yearly Mortgage Yearly Taxes Yearly Insurance Less Tax Credits Monthly Mortgage
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$57,600.00 $964.98 $98,379.00 $24,594.75
Without Credits Mortgage Property Tax State Income Tax $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $7,408.14 $2,261.67 $2,459.48 $74,081.38 $22,616.66 $24,594.75
Without credits or Stipend Yearly Mortgage $7,408.14 Yearly Taxes $2,261.67 Yearly Insurance $500.00 Less Tax Credits $0.00 Without credits monthly $1,162.67
$7,408.14 $964.98 $500.00 -$2,459.48 $534.47 Total Savings
$35,616.60