Financial calculations can be tricky. RE/MAX Properties mortgage calculator can help however we recommend the expert advice of a mortgage specialist. rE/MAX Properties has partnered with Graham Peterson as our in house lender. Click here to head straight to our Mortgage Calculator. Before you go here are the answers to some common mortgage questions.
How Much Will My Payment Be?
Your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan. Other factors also need to be taken into consideration, such as your taxes, and homeowners insurance, which are typically included in your monthly house payment.
How Much Can I Afford?
Before you start looking for a new home, you need to have an idea of how much of a monthly you can afford. To figure this out, first you need to take a close look at your total monthly household income, as well as all of your monthly expenses (the monthly payments you are already making). In addition you will need to determine how much of a down payment you can put on your new home.
How Much Income Do I Need?