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FINANCES |
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A trustworthy loan broker will be able to pinpoint the most advantageous lending source, interest rate, and terms for your home purchase. I would be happy to refer you to several quality mortgage professionals that can determine the best loan package for your needs. Contact me for more information.
You are welcome to use the mortgage tools below to assist in the process of making your financial decisions. The results are for budgeting purposes only. Your mortgage broker will provide you with final figures that are based upon their standards for approval and the loan terms that you are qualified to receive.
Loan Selection
Describes the various loan programs (fixed, adjustable, jumbo, balloon, two-step). Provides a breakdown of the benefits and risks for each opportunity.
Lays out the mortgage process fundamentals with seven articles that includes Should You Buy or Rent, How Mortgages Work, Your Mortgage Payment, Paperwork & Fees, Underwriting, Closing, and Ownership after Closing.
Lists over 250 mortgage terms that can be accessed through an alphabetical index.
Interest Rates
Compares today's interest rates (fixed, adjustable, jumbo, interest only) from at least a dozen lending institutions. Compare up to four side-by-side.
Provides a graph of the interest rates from the past three months to five years. Fine-tune the graph results by selecting your loan type and narrowing the parameters from the national to state level.
Surveys mortgage experts to gauge the state of mortgage rates over the next 30 to 45 days: Will rates rise, fall or remain relatively unchanged?
Combines the latest news, analysis and predictions on mortgage rate trends. Includes FreddiMac rate graphs for the past quarter and year.
Calculators
Determines how much you can afford. The calculation results include your maximum monthly payment, loan amount and purchase price based upon your income and expenses.
Calculates the amount of annual income required to quality for a specific loan amount using the purchase price and loan amounts.
Computes the monthly payment amount along with total interest paid over the life of the loan. Provides the option of including annual, monthly or bi-monthly advance payments within the calculation.
Estimates the typical closing costs for a loan based upon the loan amount. The figures are for budgeting purposes and do not include all possible loan fees, points or the general escrow closing costs.
Input your current loan figures and the cost of refinancing to see your new monthly payment, monthly savings, total cost, and number of months required to recoup the cost of refinancing.
Uses savings, debt, down payment, credit history, and a series of questions to make a recommendation.
Over 250 options.
I am available to answer questions about these resources and to personally complete financial computations.
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