How Much House Can You Afford?
There are a lot of variables when trying to figure out how much of a home you can afford. Our mortgage calculator can take some of the guess work out of this. This calculator uses information such as the terms of the loan, down payment, property taxes, and the home's sale price to figure out how much the monthly payment for the home mortgage will be. Our calculator also takes into account home loans where the buyer does not put 20% down, so the potential buyer will have to know how much Private Mortgage Insurance, also known as PMI, will run them.
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Contact us for more information about financing your next real estate purchase.