Calculating the Size of Mortgage Payment Calculating the size of your mortgage payment once you have decided how much you want to borrow is a matter of simple calculation. However, the difficult part is deciding how much you can afford to borrow in the 1st place. In order to calculate how much you can afford […]
Trying to borrow more than what a lender will qualify you for is almost never a good idea. Many people are inclined to borrow more than what a mortgage lender will typically lend them for a home loan. They do this by falsifying information on their mortgage application or by overstating figures. Self-employed people have […]
Before you set out to buy a home, one of the most important questions that you must ask and answer is how much can you afford to spend. In order to answer that question accurately, you need to get a fair idea of your income and expenditure. You need to figure out your long-term financial […]
Most people use a mortgage calculator to estimate the payment on a new mortgage, but it can be used for other purposes, too. 1. Planning to pay off your mortgage early. By the time a 30-year fixed-rate mortgage is paid off, the typical mortgage holder will have made total interest payments significantly larger than the […]
You can save money on your mortgage loan by having to pay the least amount of interest as possible. This is done by choosing the shortest amortization period and the lowest amount of interest-rate possible. Though you will save money by choosing a short amortization period it will definitely put more of a burden on […]