Mortgage Information
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Lower rate? More Points? Adjustable or Fixed? Interest only or amortized? There are more choices when it comes to loans to buy property than most people realize. When deciding on a loan, consider discussing your thoughts with your chosen loan officer. Let them know how long you plan on owning the property, if you will be living in it, and how much money you have available for down payment. The right lender will ask you a host of questions and listen carefully to your answers.
Don’t fall into the trap of choosing a lender sole based upon a promise of a lower interest rate! If the loan rate and terms sound too good to be true, they most definitely are. A quality loan officer will have a stable work history, knowledge of the prevailing real estate market and the ability to be direct about your current credit situation. If you need direction in this area, I work with a several very good people who have been chosen based upon their knowledge, ethics and experience. They average over 15 years in lending. Shoot me an email and I will be happy to provide you the contact information for each. Call them up, ask a few questions and make the decision that is best for you. |
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Use the mortgage calculators below to assist you in making some decisions around financing your new home, or contact me for a referral to a great lender!
Mortgage Qualification Calculator
This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.
Mortgage Payment Calculator & Amortization Table
This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.