I will be offering a series on the mortgage process. Don't hesitate to contact me anytime from www.commonsenseagent.com if you have questions or wish to speak to one of my preferred lenders.
Three Preliminary Mortgage Calculations
Take the time to use the following calculators to crunch some numbers to get an idea
of whether youâre ready for a home mortgage loan.
1. CALCULATOR: Renting vs. buying.
If you donât already own a home, you may be wondering at what point it makes financial sense to buy rather thanrent. Homeownership has some advantagesâtax savings, stability, and building equity, plus current mortgageinterest rates are at historical lowsâif you have enough money for the mortgage down payment and monthlymortgage payments.
2. CALCULATOR: Your debt-to-income ratio is a key factor in how much you
According to myFICO.com, âLenders donât want your total debt to be more than 36% of your gross monthlyincome. This percentage includes your mortgage payment and any auto, credit card, student loans, or other debtyou currently have.â
3. CALCULATOR: How much might homeownership save me in taxes?
You will get a tax deduction for homeownership that is not available if you are renting.
Author:Joshua Smith Phone: 623-703-7445 Dated: January 28th 2017 Views: 506 About Joshua: ...
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We are a full service real estate team that believes in delivering world class service to our clients. We will do everything possible to ensure our clients real estate goals are met. Joshua Smith Real Estate Group has been rated the 30th top Real Estate Team in America by The Wall Street Journal and the only way to achieve this type of success is by providing extraordinary service to our clients. We look forward to helping you and your family accomplish your real estate goals!