Looking for a home is an exciting process, but first you must have an idea of what you can afford. You can use these three powerful calculation tools to get an idea of your buying power before you begin the process. For a complete explanation of what all the numbers mean, just ask me.
This calculator is the most straightforward. By entering the price of the home, a current interest rate, the estimated real estate tax, the length of the mortgage loan, and what you plan to apply as a down payment, this calculator will give you your monthly payment (plus the breakdown of what makes it up).
Remember, with less than a 20 percent down payment, mortgage insurance will apply.
Note: These calculations are estimates only and are in no way guaranteed. For exact figures, please consult me directly.