Mortgage Calculator - West Palm Beach

Use a mortgage calculator to analyze your refinance or your purchase.Or better yet, call me and I will do the math. 561-329-0075.

 

    The thing to remember about mortgage payment calculators is that you should consult a mortgage professional to make sure you understand what you are looking at. We do this type of thing all day long so we will be able to give you the whole picture of what you are considering and all of the benefits and pitfalls.

 

There are all types of calculators to analyze your mortgage whether it is a purchase or a refinance. Depending on whether you are purchasing or refinancing, paying your own costs or having your costs paid for you will determine whether or not you like your loan and where your interest rate will end up.

  • Mortgage Loan
    Use this calculator to determine your monthly payment and amortization schedule.
  • Mortgage Points
    Should you buy points? Use this calculator to find out.
  • 15 vs. 30 Year Mortgage
    Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
  • Adjustable Rate Mortgages
    This calculator helps you to determine what your adjustable mortgage payments will be.
  • Mortgage APR
    Use this calculator to find the APR on your mortgage.
  • Mortgage Tax Savings
    Interest and points paid for a home mortgage are tax deductible. Use this calculator to determine how much your mortgage could save you in income taxes.
  • Balloon Mortgages
    A balloon mortgage can be an excellent option for many home buyers, use this calculator to see if a balloon mortgage might fit your needs.
  • ARM vs. Fixed Rate
    This calculator helps you to determine what your adjustable mortgage payments will be.

Budget

  • Mortgage Qualifier
    Can you buy your dream home? Find out just how much you can afford!
  • Required Income
    Use this calculator to determine how much income you need to qualify for a mortgage and how different interest rates affect your required income.
  • Maximum Mortgage
    Use this calculator to determine your maximum mortgage and how different interest rates affect how much you can borrow.
  • Mortgage Payoff
    Save thousands of dollars in interest by increasing your monthly mortgage payment.
  • Bi-weekly Payments
    Using bi-weekly payments can accelerate your mortgage payoff and save you thousands in interest. Use this calculator to compare a typical monthly payment schedule to an accelerated bi-weekly payment.
  • Rent vs. Buy
    Are you better off buying your home, or should you continue to rent?

Refinance

  • Refinance Interest Savings
    Use this calculator to see how much interest you can save by refinancing your mortgage!
  • Refinance Break even
    Should you refinance your mortgage? Use this calculator to determine when you will break even!

    If you are determining if a refinance it logical it is important to remember that you have all the time in the world because you are in the home. Interest rates have been pretty flat for quite a while so time is on your side. We have the process down to about three weeks again so it won't be too much of a hassle.

    Another consideration is that you always have the option where "the bank" can pay costs for you. Many customers don't consider this option. Just the other day I had a previous customer claiming that his refinance was unjustified because he wasn't bringing his interest rate down a full 2%. If I bring your rate down 1% and pay 75% of your closing costs, THATS A LOAN and there is a true benefit there!

    Considering a purchase, a good place to start for first time home buyers is the rent vs own calculator.   At least for now, there is substantial savings taking into account the mortgage interest deduction on your taxes.

    Another good part of our estimate is determining the estimate for taxes and insurance. Your previous owner may have been "homesteaded" for 10 years so when you move in that home, and your payment is based on the new tax structure, your taxes may be a completely different story.

    In states like Florida where taxes have been all over the board during the last 5 years I recommend going to your local property appraiser web site to get an accurate estimate of your future taxes.

    Debt ratio calculators and mortgage qualifier calculators really should be generated by the mortgage banker. Every deal in today's world is run through an automated underwriting engine where we have to take into account which income to use and which debts to carry. This type of knowhow comes with years in the business and studying our underwriting guidelines. Please give me a call today.

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