Mortgage Calculator
|
|
|
|
The Mortgage Calculator on this page will enable
you to calculate your mortgage payments based on amount borrowed and the
interest rate.
|
|
IMPORTANT NOTE: This only calculates your payment
based money borrowed, the interest rate and the length of your loan.
|
|
OTHER FACTORS TO
CONSIDER AS PART OF YOUR MORTGAGE PAYMENT
|
|
Ok. So you know how much MORTGAGE you can afford.
Now what about the REST OF YOUR EVERYDAY LIVING EXPENSES?
|
|
Typically, your mortgage payment will include a few
extras to protect your partner in your home that is, the BANK or MORTGAGE
HOLDER.
|
|
They will typically escrow
for Real Estate Taxes along with one or two months
Reserve of Real Estate Taxes. Some may also escrow for Insurance Premiums. At
least this gives the lender SOME protection their collateral is protected. And
believe it or not, that extra nest egg the bank requires you tp pay as part of
your payment, makes it EASIER for you. Why? This way, you are not out spending
that money on yourself -it's getting paid to where it has to go. Trust me.
|
|
|
|
|
You will also have other expenses - condo or
homeowner association fees, utility bills, lawn care and all of those other
expenses that come or WILL come into your life over the years.
REMEMBER, a mortgage is a LONG TERM COMMITMENT.
Month after month, year after year. You don't want to be house poor.
|
|
|
|
Use the following Mortgage Calculator to find out
what your Mortgage Payment would be based on the amount you borrow.
|
|
|
