![]() ![]() ![]() Getting pre-approved before you start buying will give you time to correct any errors on your credit report. If you need a list of local lenders, just let us know. This will let the sellers know that you are a serious buyer with a serious offer. When you find the home you want, you'll already have the pre-approval. By getting pre-approved, you won't waste time and energy. Most lenders can get you pre-approved quickly. The time you waste looking at homes in a price range beyond your reach could let the home you can afford slip away. Getting pre-approved for your mortgage is the first step to finding your dream home. Finding Your Dream Home Starts With The Mortgage Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. You may want to see if you can do a conventional with as little as 5% down to avoid the lifetime PMI. Recent mortgage rules require FHA loans to include PMI for the life of the loan. VA loans allow you to buy with zero down. It surprises some buyers to discover they don't have to put 20% down. The calculator will add in PMI if you put less than 20% down. You can change the amount of the down payment or the length of the loan. This will help you understand how much paying a little more or less will affect your monthly payment. You can look at payments for homes in different price ranges. It will add in an estimate for property taxes. ![]() The mortgage calculator below will help you figure out what your monthly principle and interest payments will cost. ![]()
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