Mortgage Calculator
The purchase price
is the total amount you agreed to pay for the property.
The down payment
is the portion of the sale price of a property that is not financed. Lenders typically offer lower rates for borrowers who make larger down payments.
The loan term
is the amount of time or number of years that you will have to repay a loan.
The interest rate
is the amount you’ll pay annually to borrow the money for your loan. Interest rates are constantly changing. Contact us to lock in your rate.
Property tax
is any tax on real estate . You should be able to obtain this amount from the seller. Keep in mind that these rates will go up over time.
Homeowners’ insurance
provides financial protection in the event that the homeowner’s house or its contents are damaged or if the insured or their family are held liable for injuries to other people or damage to their possessions while they are on the property.
A homeowners association, or HOA
is an organization within a community that sets the rules for properties in its jurisdiction and enforces them. The HOA collects fees from its member property owners to pay for maintenance and sometimes property taxes.