Mortgage Calculator
Q: How can I able to learn calculating monthly mortgage payment through mortgage calculator at home by my own without going to any mortgage broker or bank? Can I use current rates listed in the daily newspaper for mortgage calculation?
A: You can find lots of websites where you can calculate your mortgage using online mortgage calculator tool. You just enter your data and get whatever you want. The calculation will depend upon MRI insurance and add-on fees. Banks usually calculate the ratio of your income to your total debt.
Q:Where Can I Calculate Total Cost for my new home based on Monthly EMI payments?
A:Search The Internet for mortgage Calculator and you will find my good websites.
You just need to enter the amount you need as loan,Total duration of loan,Interest rates and bank fees.
There are some backward calculator where you can enter how much monthly loan repayment you can do and how much interest you need to pay and it will tell you how much you end up paying extra in mortgage
Q:is Online Mortgage calculator gives you accurate calculations?
NO,Most of them will give you only basic info,if you find a calculator that gives more info it will become too complicated to use for an average user.
Some things which many online calculator may skip are
Closing Costs,credit rating,second Mortgage,Application Fees,Bank Fees
Better will be use a calculator to do basic study and them approach the banks with Your requirements so You know what they are offering
Q:I did calculation on mortgage calculator and it tells we can only afford 20K,That's very low for us to buy a nice home,why's it so?
Don't worry,If I was you I will not give much thought to these online calculators.
They have only basic info you entered,talk with a qualified Mortgage agent/Bank and they will tell you how much as loan you can get easily.More often its How much you can pay before you retire that factors much!
Q:what you mean by second mortgage?
Second Load against a property when First load is still not paid.
Second Mortgage attract higher Interest as they are more risky for the agents.
Q:I have a bad credit score,Can I get a second second mortgage
Depends on how bad,Usually second Mortgage loan are hard to take
Q:Where I can find a good and easy to use Mortgage Calculator (For Home Equity Loans and Home Refinancing etc...?)
It should be pretty easy to calculate if you know all factors using Excel.
A: You can find lots of websites where you can calculate your mortgage using online mortgage calculator tool. You just enter your data and get whatever you want. The calculation will depend upon MRI insurance and add-on fees. Banks usually calculate the ratio of your income to your total debt.
Q:Where Can I Calculate Total Cost for my new home based on Monthly EMI payments?
A:Search The Internet for mortgage Calculator and you will find my good websites.
You just need to enter the amount you need as loan,Total duration of loan,Interest rates and bank fees.
There are some backward calculator where you can enter how much monthly loan repayment you can do and how much interest you need to pay and it will tell you how much you end up paying extra in mortgage
Q:is Online Mortgage calculator gives you accurate calculations?
NO,Most of them will give you only basic info,if you find a calculator that gives more info it will become too complicated to use for an average user.
Some things which many online calculator may skip are
Closing Costs,credit rating,second Mortgage,Application Fees,Bank Fees
Better will be use a calculator to do basic study and them approach the banks with Your requirements so You know what they are offering
Q:I did calculation on mortgage calculator and it tells we can only afford 20K,That's very low for us to buy a nice home,why's it so?
Don't worry,If I was you I will not give much thought to these online calculators.
They have only basic info you entered,talk with a qualified Mortgage agent/Bank and they will tell you how much as loan you can get easily.More often its How much you can pay before you retire that factors much!
Q:what you mean by second mortgage?
Second Load against a property when First load is still not paid.
Second Mortgage attract higher Interest as they are more risky for the agents.
Q:I have a bad credit score,Can I get a second second mortgage
Depends on how bad,Usually second Mortgage loan are hard to take
Q:Where I can find a good and easy to use Mortgage Calculator (For Home Equity Loans and Home Refinancing etc...?)
It should be pretty easy to calculate if you know all factors using Excel.
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