Knowing that a mortgage is part of the homebuying process, it can be difficult to understand how much of a mortgage you can afford. A mortgage calculator is one of the many online tools that help estimate a home loan payment for homebuyers.
The Marimark Mortgage mortgage calculator has some great features that will help you decide what type of loan is best for you.
Mortgage Calculator and Loan Calculator
The calculator has two significant features: a mortgage calculator and a loan calculator.
You can use the calculator to analyze strictly from a “loan” perspective with principal and interest. And you can explore from a “mortgage” perspective and factor items such as property taxes, insurance, and PMI.
Closing Cost Estimator
We also have a Closing Cost Estimator to help you estimate the costs of purchasing a home.
Just enter the home’s purchase price, and the calculator will estimate the closing costs based on certain assumptions. To view or change the assumptions, click “View/Edit Closing Cost Details.”
Related: Closing Costs
Located at the bottom of the page is the Affordability Calculator. which helps determine how much you can afford on a home.
Enter your monthly gross income, debt expenses, down payment, and interest rate. The calculator will give you the amount you can afford based on certain assumptions, which you can view by clicking “View Calculation Details.”
Home Loan Pre-Qualification
After getting a visual of the numbers and you are ready to take the next step in the homebuying process, contact Marimark Mortgage to pre-qualify for a home loan.
By pre-qualifying for a home loan, you know what you can afford on a home and what types of loans you qualify for, which makes for a smooth homebuying process.
We specialize in conventional home mortgages, FHA, VA, and USDA mortgage options, refinance loans, and reverse mortgages. We’ve worked extensively with cash-out refinancing, and help clients to lower their monthly mortgage payments.
Updated on October 10, 2022