Purchase Mortgage Calculator
The amortization period must be 25 years or less when putting less than 20% down payment.
Mortgage insurance is always required with a down payment less than 20%.
The full report includes:
- Four different down payment options
- Full purchase report with Payment Shock protection
- Amortization schedule
- Close cost cash requirements
- Monthly expenses
- Suggested income for mortgage payment
Do keep into consideration that when you are using the calculators there can be some variance on the answers it provides as the information you have may be out slightly. Any adjustments to the figures you put into a mortgage calculator will have an affect on the information it will provide you. With that being said, using a mortgage calculator is a great easy way to get an idea and play with different numbers. This helps you to see what you would feel best with for a mortgage or possibly think about breaking your mortgage and redoing it.
If you want to know exact numbers and information then you should contact your mortgage broker. They will be able to provide you with the right information to use in the calculators or give you the answers you are looking for if you don’t want to use one.