Mortgage Calculator

  
 

 

Buying a home usually means obtaining a mortgage loan.  You will find a useful mortgage calculator below that will give you the monthly payments that you could expect given your particular financing situation. 

THINGS TO REMEMBER
1.  The mortgage industry is very competitive.  Your broker will get you the best rate and terms.  There are two rate types; posted rate which is high and discount rate which is currently about 1.3 % less.  Think of it as wholesale vs retail or gas that one day is 89.9 and the next day 69.9.  Competition is beautiful and your broker will take care of ensuring you get the full benefit of discount financial services. 
2. The lowest rate is not necessarily the best mortgage.  Terms add value. 
3. If you are going to be moving out of your local area, unless you are with a major institution, you may not be able to take your mortgage with you.  Even some large credit unions do not have a banking network and, therefore, you may need to pay a prepayout penalty, usually 3 months's interest. 
4. There is too much to remember-ASK YOUR MORTGAGE PROFESSIONAL.

  
     
 

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