The Best Mortgage Calculators On the Web! Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... How Much Can You Afford?
The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the "View Report" button to see a complete amortization schedule of your mortgage payments.
Definitions
- Annual income
- Your annual income before taxes. For married couples this is your total combined annual income before taxes.
- Purchase price
- The price of the home you wish to purchase. This is the actual price you'll pay, not including any closing costs.
- Total monthly payment
- Total monthly payment that you can qualify for. This is the total of principal, interest, taxes and insurance paid each month. Often called PITI.
- Cash on hand
- Cash you have for the down payment and all closing costs.
- Interest rate
- The current annual interest rate you can receive on your mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
- Property tax rate
- Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.
- Home insurance rate
- Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.
- Monthly car payment(s)
- Total monthly payment for your car loan(s).
- Credit card payments
- Total monthly minimum payments for your credit cards.
- Other loan payments
- Any other installment loan payments, such as student loans or unsecured loans.
- Total closing costs
- Total upfront costs to close your loan. This is the total of your loan origination fee, points paid and other closing costs.
- Loan origination rate
- The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.
- Number of points paid
- The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.
- Other closing costs
- Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.
- Monthly PMI payment
- Monthly cost of Principal Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year. Monthly PMI is calculated by multiplying your starting loan balance by this percent and dividing by 12. When the equity in your home exceeds the percentage required for PMI, your PMI payment drops to zero. Please note that this is only an estimate of your actual PMI. The amount you may be required to pay may be higher or lower than our estimate.
- Monthly PI payment
- Monthly principal and interest payment.
- Total for down payment
- Total funds remaining, after closing costs, for down payment.
- Limit down payment
- Limit your down payment to percentage required to eliminate the need for PMI payments. Even if you have more cash on hand than required for closing costs checking this box will limit your down payment to the minimum amount required to forego PMI.
- Show schedule by month
- Display the payment schedule by month when you press the "View Report" button.
- Show schedule by year
- Display the payment schedule by year when you press the "View Report" button.
- Total annual income debt percentage
- Not shown. This is the percentage of your annual income your financial institution allows you to use for debt installment payments. This includes car payments, credit card payments, other loan payments and your "Principal, Interest, Tax and Insurance" payment for your home. The default rate is 36%.
- PITI annual income percentage
- Not shown. This is the percentage of your annual income your financial institution allows you to use for your "Principal, Interest, Tax and Insurance" payment for your home. The default rate is 28%.
- Qualify amount
- Shown as "Total monthly payment." This is the total amount you qualify for per month. This amount is the total of "Principal, Interest, Tax and Insurance" for your home.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
First Time Buyers >A Good Start
When a real estate agent begins to work with a new buyer, we will sit down with you, ask a number of questions, and listen carefully to your answers. Our purpose during this initial interview is to get a clear idea of what kind of property you are looking for and your approximate price range. We explain how we will function as your representative, what the local market is like, and what we can do to help you locate that perfect home.
It is important for you as a prospective buyer to be as clear as possible about your needs. After we have talked and you have decided how much you can comfortably spend, we will know how to facilitate your home search. We won't take you through a three-story colonial with a top floor master suite if you want to avoid climbing up and down stairs! Establishing clear communication with our clients helps us save you hours of unfocused house hunting.
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What weighs 320 tons and is considered the largest single block building?
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Pyramid of Mycerinus (Third Pyramid) at El Gizeh, Egypt is the largest single block building and the world's oldest pyramid. |
 See More Real Estate Trivia > |
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Andrew Malone
RE/MAX of Buckhead
4246 Peachtree Rd
Altanta, GA 30319
Cell: 404.246.3265
Office: 404.237.9011
E-fax: 800.385.1350
Fax: 404.237.3631
Email: andrewmalone@NUMBER1EXPERT.com
Email: amalone@remax.net
I am a Cum Laude graduate from Georgia State University with a degree in Finance and Marketing. I began my real estate career after graduating from college at the age of 23. I have been an individual practitioner in real estate for 7 years with RE/MAX of Buckhead in Atlanta, Georgia. My successes include: Average 30 home sales/year, Over 150 homes sold, Presidents club –1 year, 100% club – 3 years, Platinum club – 1 year, Top New Agent 2004, #2 Agent in office 2006,
#1 Agent in office 2007, 6.2 million closed transactions 2006, 4.4 million closed transactions 2007, Real Estate Lifestyle Magazine – Rising Real Estate Star 2007.     
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