Calculate the PMI Before Buying
March 19, 2008
Remember to always use a mortgage calculator before buying a home. Fees, closing costs, and PMI can often render a house unfordable, even when the payments are low.
Comments (0)Interest Only Mortgage Payment Calculator
March 10, 2008
Considering an interest only mortgage loan? Use this calculator to find your monthly payment.
Be sure to check out our other calculators, interest only loans often offer negligible discounts monthly in return for a larger overall payment.
Comments (0)Refinance Calculator
March 5, 2008
Before refinancing, make sure you’ll actually be saving money. Use our refinancing calculator to determine whether the new rate justifies the closing costs you’ll pay.
Always shop around, and check a variety of lenders before committing, or even giving your social security information. Get the rate you want first.
Comments (0)How Much Mortgage Can You Afford?
March 2, 2008
Wondering what kind of a house you can qualify to buy? While there are plenty of options for homes in Pennsylvania with $100 downpayments, you may need a bit more to qualify to buy that dream home.
Our calculator will determine how much house you can afford to buy.
Comments (0)Mortgage Debt To Income Calculator
March 1, 2008
Most lenders require that your mortgage payment not exceed one third of your earnings. Use our calculator to determine whether your income qualifies you for a mortgage.
If you don’t have sufficient earnings, don’t fret. There are plenty of lenders that will be willing to work with you.
Comments (0)APR Calculator
February 29, 2008
Wondering what APR means? Use our calculator to find what you’ll really pay on that loan.
Some lenders have high closing costs, which makes an FHA mortgage through HUD sometimes have a better APR, even with a higher interest rate.
Comments (0)Calculate Your Monthly Payments
February 27, 2008
Wondering how your mortgage will amortize? Many investors find being able to have a hard copy of their mortgage amortization schedule in hand to be invaluable. If you’re considering buying a HUD home, and renting it out, you’ll want to know if it cashflows.
Our Monthly Payment calculator will calculate your monthly payment, and will allow you to save an excel amortization spreadsheet to your hard drive.
Comments (0)PMI Mortgage Calculator
January 6, 2008
PMI is often charged on loans that have less than 20% LTV. It is essentially a useless insurance program which only benefits your lender. If you get foreclosed, the lender collects on the insurance, and you still face all the negative consequences of being foreclosed on, including a potential tax liability.
One should always calculate for pmi prior to budgeting on a home purchase. Otherwise you may purchase more home than you can safely afford.
Comments (1)Easy Mortgage Calculator
January 5, 2008
Potential home buyers frequently find the need to quickly calculate how to payoff their mortgage and schedule the payments via amortization. An easy calculator is available here.
Remember that you will likely have PMI unless you pay the loan down to under 20%.
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