Ever look at a house for sale and wonder could we afford that? Is that neighborhood near our price range? Are you thinking about purchasing your first home, but not sure how much you can purchase? If so, have you ever tried the Mortgage Calculator on the Roger Fazendin REALTORS website?
The Mortgage Calculator is on the left side of the list of features. You simply enter the list price, the down payment, the loan term and the interest rate. It automatically calculates what your mortgage payment would be – you can also include taxes and insurance fees into the calculation to give you a better idea.
Or if you find a listing that you like by using our Property Search on the fazhomes.com website – when you click on the listing to look at the features you can click on the right and find a mortgage calculator specific to that listing. You can change the
parameters to meet what the current market is doing. It auto populates fields
like list price and taxes from the MLS listing detail.
What is the current market doing? We contacted Cathy Robin at Summit Mortgage for a quick update:
30 year – 4%
FHA – 3 ¾%
15 year – 3 ¼%
Jumbo 30 year – 4 ¾%
(Jumbo means loan amount over $417,000)
So while you may have fun exploring the options on our website – when you are ready to get serious – give Cathy a call and she can give you more specifics and options that fit your personal situation. Things are always changing in the mortgage industry, so contact a professional who can steer you on the right path.