Mortgage Payment Calculator, including Interest Only
Dear Neighbor,
It's important to calculate different payments when considering a mortgage, which is why I have placed these mortgage calculator tools for you use.
Click here for the: Mortgage Payment Calculator. This calculator will provide both a fully amortized (PI) mortgage payment, which includes principal and interest payments, and an Interest Only payment.
Find out what a full PITI (Principal, Interest, Taxes & Insurance) mortgage payment estimates would be like by clicking this link.
Already own a home? Click here to find out the Total Cost Benefit of owning your home.
If you have any questions, please free to contact me at your earliest convenience.
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How Millions of Homeowners Have Been Fooled Into Keeping Their Mortgage For Life
Mortgage payment calculator, including interest only
Note:www.HomeLoans.cc calculations are solely intended to provide ballpark estimates, not final or binding loan amounts. This is not a credit approval or commitment to lend, and by using the calculator you are not locking in the interest rate. Most interest only mortgage programs allow interest only payments for a time, such as 3, 5, 7, 10 or 15 years of the loan term. The loan will then be amortized for full payoff over the remaining loan term. Programs include loans that have the interest rate adjusting every 6 months, or you can lock in a rate up to 30 years, while making interest only payments for the first 10 to 15 years.
Buying your first home or refinancing your mortgage can seem intimidating, especially when faced with so many different loan types. Don't worry, expert help is only a keystroke or phone call away. Here is a quick review of various mortgage options and some helpful hints as to when each loan is appropriate to use.
| Program | Description | Appropriate for those who: |
|---|---|---|
| Fixed rate mortgage, 30,20,15,10 years | Interest rate & monthly payment remain the same for the term of the loan | |
| Adjustable rate mortgage, 10,7,5,3 & 1 year fixed terms | Interest rate & monthly payment remain the same for the fixed term of the loan, then adjusts based upon a "margin and index" | |
| Balloon mortgage, 5/25 or 7/23 terms | Interest rate & monthly payment remain the same for initial fixed term. At the end of the term, loan becomes due in full or borrower can refinance into new loan at current market rates | |
| Exotic mortgages, Pay-Option ARM, Piggyback Mortgage, Interest Only | Interest rate & monthly payments are artifically lower by design, temporary cash-flow creation, wealth building strategy for astute borrowers |
Brawley, Calexico, Calipatria, El Centro, Heber, Holtville, Imperial, Seeley, & surrounding areas
Frederic A Din, Residential Mortgage Specialist stands up for increased Borrower Education.
