We’ve assembled what
we hope are a useful set of mortgage calculators to enable you to make a preliminary
determination of what type of loan might suit you best, how large a mortgage you
might qualify for and what the monthly costs of your loan might be.
Let me emphasize that these tools should only be used to get a general idea of your
borrowing capacity. Depending upon the lender you select, a variety of other factors
not reflected in the calculations and the requirements of specific loan programs,
you may actually qualify for somewhat more or less. Only your lender can actually
make that determination.
When it comes time to get serious about starting a home search, you should begin
by consulting a reputable mortgage lender and ask them for a document called the
Loan Status Report. The LSR, as it’s referred to in the industry, will outline the
limits of your ability to finance a purchase and actually needs to be submitted
along with any offer you might decide to make.
If you haven’t selected a lender as yet or simply need to know the current rates
in order to use the calculators effectively, please visit our preferred lenders
To assist you further with your computations, closing costs and tax bracket information
can be obtained using these respective links and an estimate of insurance costs
can best be obtained by contacting Dana McFarland of Allstate Insurance who will
be happy to answer your questions.
The only way to deal with the property tax question is to access the MLS and identify
a home that you might be interested in.