Mortgage Information
|
If you're like most buyers, a home is the greatest financial 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.
|
IMPORTANT QUESTIONS TO ASK WHEN SHOPPING FOR A MORTGAGE:
- What are the total mortgage company costs, including the appraisal and application fee?
- What are the points for each rate quoted?
- Am I being charged any other fees that haven't been discussed?
- Is there a prepayment penalty associated with this loan?
- Can I lock in points and rate?
- For how long can I lock in my rate?
- How long before settlement can I lock in?
- Am I being charged a lock in fee?
- Approximately how long will it take to process my loan?
- Where is the loan processing handled- in house or sent out to a thrd party?
- Is there anything else I need to know about your services that we have not covered?
- Will the loan officer attend settlement?
- Can you put this in writing?
Use the mortgage calculators below to assist you in making some decisions around financing your
new home.
Mortgage Qualification Calculator
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.
Mortgage Payment Calculator & Amortization Table
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.