If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing.
There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price.
Please, we all know about the 08' meltdown in the mortgage market. Again, use my 50 years of real estate experience and let me refer you to some very good mortgage contacts I have in the region, or to help you in any other way I can to secure the best possible rate for your home purchase.
Use the mortgage calculators below to assist you in making some decisions around financing your new home.
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. This will be an average, very close to your final mortgage amount. But when you sit with your final mortgage forms all costs will be explained and exact!
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.