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Find out just how much you can afford to borrow – and just how much
of a house you can buy, based on standard lender guidelines. Just fill
out this simple form, with no muss, no fuss, and no obligation. Or better
yet, just give us a call, and we’ll do it for you.
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Definitions
Mortgage amount
Original or expected balance for your mortgage.
Interest rate
Annual interest rate for this mortgage.
Term in years
The number of years over which you will repay this loan. The most
common mortgage terms are 15 years and 30 years.
Monthly payment
Monthly principal and interest payment (PI).
Total payments
Total of all monthly payments over the full term of the mortgage.
This total payment amount assumes that there are no prepayments of
principal.
Total interest
Total of all interest paid over the full term of the mortgage.
This total interest amount assumes that there are no prepayments of
principal.
Prepayment type
The frequency of prepayment. The options are: none, monthly, yearly,
and one-time payment.
Prepayment amount
Amount that will be prepaid on your mortgage. This amount will
be applied to the mortgage principal balance, based on the prepayment
type.
Start with payment
This is the payment number that your prepayments will begin with.
All prepayments of principal are assumed to be received by your lender
in time to be included in the following month's interest calculation.
If you choose to prepay with a one-time payment for payment number
ZERO, the prepayment is assumed to happen before the first payment
of the loan.
Savings
Total amount of interest you will save by prepaying your mortgage.
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