The Best Home Mortgage and Commuting Expense Calculators On the Web! Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Also, please try my Commuting Expense Calculator to see just how affordable that "cheaper", but farther home really is. Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... Should You Rent or Buy?
Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision. Click the "View Report" button for a detailed look at the results.
Definitions
- Price of home
- Purchase price of the home you wish to buy.
- Cash on hand
- Cash you have for the down payment and closing costs.
- Interest rate
- The current interest rate you can receive on your mortgage.
- Term in years
- The number of years over which you will repay this loan.
- Property tax rate
- Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.
- Home insurance rate
- Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.
- Loan origination rate
- The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.
- Points paid
- The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.
- Other closing costs
- Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.
- Total closing costs
- Total upfront costs to close your loan. This is the sum of the loan origination fee, amount paid for points and other closing costs.
- Total for down payment
- Total funds remaining for down payment.
- Mortgage amount
- Total amount of loan.
- Investment return
- The rate of return you could receive if you invested your closing costs and down payment instead of purchasing a home.
The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.
- Monthly rent payment
- Amount you currently pay for rent per month.
- Income tax rate
- Your current marginal income tax rate.
- Expected inflation rate
- Inflation rate used to adjust amounts subject to annual increases. These amounts include rent, insurance and tax payments.
- Home appreciates at
- Annual appreciation you expect in the home you are purchasing.
- Future sales commission
- The percent of your home's selling price you expect to pay to a broker or real estate agent when you sell your home.
- House payment
- Total of principal, interest, taxes and insurance (PITI) paid per month for your home. Insurance includes Principal Mortgage Insurance (PMI) and homeowner's insurance.
- Principal payment
- Total of principal paid per month on your mortgage.
- Tax savings
- The value of the tax deduction you receive on your mortgage's interest and home's property taxes. For example, if you have $900 in interest and $100 property taxes per month, the value of the tax deduction would be $280. (At a tax rate of 28%).
- Net house payment
- Your house payment minus the value of the tax deduction and principal payment.
- Net home price
- Net selling price of your home after subtracting any sales commissions.
- Monthly PI
- Monthly principal and interest payment.
- Monthly PMI
- Monthly cost of Private Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Curb Appeal >An Attractive Approach
First impressions count! Do you remember your first impressions of your present home? What made you want to buy it? The features or amenities that first attracted you are probably the same ones that will sell your home.
Prospective buyers' first impression of your home is the feeling they get when approaching your property. Each home has its own unique features--trees and shrubs which soften structural lines, unusual architectural features, such as bay windows, or a beautifully landscaped entrance. Whether your home is modern or elegant traditional, the approach to your home makes a statement. Since most buyers are looking for a home that has both charm and class, it pays to keep your grounds well-maintained and attractive. If the exterior appearance of your home and yard is pleasing, buyers will want to see the interior.
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Where would you go to enjoy a soak in the world's largest bathtub?
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The Spa Resort Hawaiians in Fukushima, Japan, offers an outdoor soaking tub that occupies a total area of 10,760 square feet and can accommodate 1,500 persons at one time. |
 See More Real Estate Trivia > |
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James W. McCormack, Broker, REALTOR, e-PRO, RECS
Help-U-Sell Edge Real Estate
1454 Bethlehem Pike
North Wales, PA 19454
Office: 215-619-0100 ext. 111
Direct: 215-397-5102
jwm@jameswmccormack.com
The James W. McCormack Home Selling Team
James W. McCormack, Broker/Owner, Lead Listing Specialist and Mortgage Consultant
Joseph Hradnansky, Buyer Specialist
James Henshaw, Transaction Manager
James W. McCormack
Broker/Owner, REALTOR, e-PRO, RECS, Real Estate and Mortgage Consultant
Your Personal Real Estate Expert Who Cares About You AND Guarantees it!
James W. McCormack Broker/Owner of Help-U-Sell Edge Real Estate, is an experienced full-time real estate professional serving Bucks County PA and Montgomery County PA. Jim is a graduate of the University of Pennsylvania and Archbishop Ryan High School.
He is a member of the Bucks County Association of Realtors, Pennsylvania Association of Realtors and the National Association of Realtors. Jim McCormack and Help-U-Sell Edge Real Estate are members of the Better Business Bureau.
Jim received a sales award from Help-U-Sell in 2005. He looks forward to helping you buy and sell real estate in Bucks and Montgomery Counties. Jim and his wife, Dawn, lived in North Wales/Montgomery Township from 1999 through 2004. In January 2005 they moved to Quakertown.
Please visit my websites for lots of great real estate related information: www.NorthPennHomes.com, www.BucksMontPA.com and www.JimTheRealEstateExpert.com.
License Jurisdiction: Pennsylvania
Brokerage Company License #: RB063564
Broker of Record: James W. McCormack
Broker of Record License #: RM419403
Company Name: JWM Realty, LLC dba Help-U-Sell Edge Real Estate
Address: 1454 Bethlehem Pike, North Wales, PA 19454
Office Phone: 215-619-0100
   
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