The Best Mortgage Calculators On the Web! Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! 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... Are Balloon Mortgages For You?
A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common balloon mortgage terms are 5 years and 7 years. After the mortgage term is complete, you will then need to refinance or pay off the remaining balance.
- Monthly payment
- Monthly principal and interest payment (PI). The monthly payment is calculated using a 30 year term.
- Total payments
- Total of all monthly payments over the term of the balloon mortgage. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the term of the balloon mortgage. This total interest amount assumes that there are no prepayments of principal.
- Prepayment type
- The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
- Prepayment amount
- Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
- Start with payment
- This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.
- Savings
- Total amount of interest you will save by prepaying your mortgage.
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.
Selling Your Home >Selling and Lock Boxes
Having your house on the market involves a certain invasion of your privacy. Real estate agents will be previewing it and showing it to buyers with some regularity. While you want to make your home reasonably accessible to the real estate professionals and their prospects, you don't want to run the risk of stepping out of your shower just as a broker is ushering in buyers.
In many areas real estate agents use a handy little tool of the trade called a "lock box". When a property is occupied, the agent first calls to let the owner know when they will be coming by. If no one is at home, the agent can get into the house with a key stored in the lock box.
The other extreme of accessibility is to require a day's notice before a showing, and to insist that your real estate agent be present at each one. This will eliminate a lot of the inconvenience to you, but it may also eliminate a lot of showings of your house. Whatever arrangements you work out, keep in mind that the easier you make it for real estate agents to open and show your home, the easier it will be to sell it quickly.
|
| Q |
What three things are necessary in order to purchase a home?
|
| A |
Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible. |
 See More Real Estate Trivia > |
|
|
Annette R. Wolf
RE/MAX 2000
11400 Rockville Pike, Suite 200
Bethesda, MD 20852
301-340-8946
Fax: 301-424-3690
annette@annettesellshomes.com
As one of America's #1 Real Estate Experts™ in the Potomac area Annette is well-equipped to handle all of your real estate needs. Annette is one of the top real estate professionals in the Washington Metropolitan area. She is licensed in Maryland and the District of Columbia and is a lifelong resident of the area. Her knowledge of the metro area, her negotiating skills and her commitment to provide the highest quality most professional service in the real estate industry have earned her a stellar reputation.
Contact her for assistance with all of your real estate needs.
www.AnnetteSellsHomes.com is brought to you by
Annette R. Wolf
NUMBER1EXPERT™ in real estate for
Potomac, Bethesda, Rockville and Gaithersburg, Maryland Read Annette R. Wolf's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
NUMBER1EXPERT™
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed. |
- NUMBER1EXPERT™ 
