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Home Purchase Cost Comparison
Mexican Bank Trust (Fideicomiso)
vs.
Private Park Land Lease
| Buyer Costs |
Bank Trust |
Park Land Lease |
| Home Purchase Price |
$150,000 |
150,000 |
| Land Purchase Price |
$150,000 |
$0 |
| Total Purchase |
$300,000 |
$150,000 |
| Minimum Down Payment |
$60,000 |
None |
| Term |
50 Years |
10 Years |
| Renewable |
Yes |
Yes |
| Set Up Charge |
One-Time Fee |
10% of Purchase Price |
| Set Up Cost |
$2,000 |
$15,000 |
| Annual Cost |
$200 |
None |
| Interest Rate |
9% |
None |
|
Monthly Loan Interest vs.
Park Lease Payment
|
$1200 |
$650-$800 |
| Total Interest/Lease Pmts. |
$144,000 |
$78,600 |
| Closing Charge |
6% of Purchase Price |
None |
| Closing Cost |
$18,000 |
None |
| Property Insurance |
$700 |
None |
| Annual Home Owners Insurance |
$500 |
$350 |
| Annual Property Tax |
$650 |
None |
| Closing Coordinator Cost |
$1,000-$1500 |
None |
| Closing Time |
90 Days |
7 Days |
| Total Move-in Fee |
10% + Closing Costs |
Home Cost |
| Total Move-in Cost |
$60,000 |
$165,000 |
10-Year Balance
Owed Debt Before Interest |
$201,000 |
$0 |
| Monthly Payment |
$3,574 |
$655 |
| Total Price Paid in 10 Yrs. |
$539,000 |
$243,600 |
| Savings with Land Lease |
None |
$295,400 |
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