Financing Information
We suggest that you talk to a mortgage lender or banker before starting your search for a new home. This allows you to determine the amount you can afford and the type of loan that best fits your needs. By making this simple phone call, you can save a lot of time and money.
With all of the recent industry reform, it is important to interview your mortage lender or banker to understand these changes. Here are some questions that you should ask.
- How does my FICO score effect my loan?
- What loan programs are there?
- Does getting pre-qualified help my Realtor ® negotiate pricing?
- How much down payment will I need?
- Are there programs that will help me wih the purchase of a home?
- How much are closing cost?
- What is APR?
Purchasing a home is not always about the size of the home or the homes features, but your comfort level with payment. Your income, debt and credit score will give you guidelines as to the home that you qualify.
If you would like help in the process or have questions or if you'd like to hear from a human voice, please contact me at your convenience.
Mortgage Calculator
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.