Tag: mortgage

How to Use a Mortgage Calculator

A mortgage calculator is an excellent way to estimate your monthly payment. Most cases will require you to know the cost of your home, current value, your downpayment, and your equity. Equity is the difference between your home’s current value and what you owe. The down payment can either be in dollars or a percentage. […]

How Much Mortgage Can I Afford?

The first step in getting a mortgage is to calculate how much you can afford. Lenders use a formula to determine how much you can afford, but they don’t consider your goals and financial situation. This means that your monthly payment and down payment should be based on your income, not on your goals. To […]