If you're like most buyers, a home is the most expensive 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.
We would be happy to refer you to some very good mortgage contacts that our clients have used, or to help you in any other way we can to secure the best possible rate for your home purchase.
Use the mortgage calculators below to assist you in making some decisions about financing your new home. The two calculators give you two separate viewpoints to consider. The first one tells you how much money you qualify to borrow (usually this number is higher than what you actually want to spend). The second calculator determines what a mortgage payment would be for a specific dollar amount. (Useful to determine your price range). When you look at both figures side-by-side you'll be able to see (for example) that if you spend "x" amount per month you'll be able to purchase a home costing "x" amount of dollars.
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.
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.