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)February 28, 2008
Paying off your mortgage early can save you thousands. This can be particularly necessary if you find yourself with a high rate adjustable mortgage loan.
Wondering how a second mortgage could benefit you in paying off your mortgage early? Use the additional payment calculator to find out how much you can save by making an extra payment here and there.
You may be surprised at the immense savings available!
Comments (0)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)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)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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