The easiest way to get started is to qualify your finances and know what you're able to afford. If you're looking for a vacation home, you'll have to add your current mortgage payment, taxes, and insurance into your calculations. If you're renting an apartment, the bank will consider your monthly rent amount as a mortgage payment.
We provide a totally private
mortgage calculator and a
prequalifying tool in convenient areas throughout the site. We're also connected to Mortgage 101, where you can find articles, tools, glossaries, etc., that cover an enormous amount of territory. You'll have access to amortization charts, insurance rates, explanations of different types of loans.
The Prequalification Wizard under TOOLS to the left will forward your information to lenders, who may or may not
contact you. If you'd like to remain confidential, use the "How Much Can I Afford?" tool. It performs the same basic functions, and you're not required to enter your name, address, ph#, etc.
The Mortage Calculator allows you to determine your monthly payments. It has a default estimate for taxes and insurance that changes proportionately to reflect a different "Home Value" (top of right hand column). If you'd like more accurate results, you can use the Live Interest Rates link to get an idea of current interest rates...be sure to take origination fees and discount fees into account. In this particular report, both of these are calculated as points (a point is 1% of the amount you intend to borrow) that must be paid up front with the closing costs. Just plug the rate into the equation and determine the amount you need to borrow. For the insurance, you can either use the default estimate, or get an estimate from the link to
Insurance Rates.
Under Commercial Loans, you'll find more general information, as well as calculators. The three icons to the left, Mortgage Calculators, Mortgage Interest Rates, and Mortgage Information lead to more than 175 articles and tools to help you make the right decision. Your agent will also be able to direct you to lenders and personal sources of information. If you have any problems, just e-mail us at info@jtrealty.com. Good luck!
