# Mortgage Calculator

## \$1,115.57 / Month

### Mortgages

A mortgage is a loan secured by a property usually a real estate property. A real estate mortgage usually includes the following key components:

• Loan Amount the amount borrowed from a lender or bank. The maximum loan amount one can borrow normally correlates with household income or affordability. To estimate an affordable amount, please use our House Affordability Calculator.
• Down Payment the upfront payment of the purchase, usually in a percentage of the total price. In the US, if the down payment is less than 20% of the total property price, typically, private mortgage insurance (PMI) is required to be purchased until the principal arrives at less than 80% or 78% of the total property price. The PMI rate normally ranges from 0.3%-1.5% (generally around 1%) of the total loan amount, depending on various factors. A general rule-of-thumb is that the higher the down payment, the more favorable the interest rate.
• Loan Term the agreed upon length of time the loan shall be repaid in full. The most popular lengths are 30 years and 15 years. Normally, the shorter the loan term, the lower the interest rate.
• Interest Rate the rate of interest charged by a mortgage lender. It can be “fixed” (otherwise known as a fixed-rate mortgage, or FRM), or “adjustable” (otherwise known as an adjustable rate mortgage, or ARM). The calculator above is only usable for fixed rates. For ARMs, interest rates are generally fixed for a period of time, after which they will be periodically “adjusted” based on market indices. ARMs transfer part of the risk to borrowers. Therefore, the initial interest rates are normally 0.5% to 2% lower than FRM with the same loan term. Mortgage interest rates are normally expressed in Annual Percentage Rate (APR), which is sometimes called nominal APR or effective APR. It is the interest rate expressed as a periodic rate multiplied by the number of compounding periods in a year. For example, if a mortgage rate is 6% APR, it means the borrower will have to pay 6% divided by twelve, which comes out to 0.5% in interest every month.

The most common way to repay a mortgage loan is to make monthly, fixed payments to the lender. The payment contains both the principal and the interest. For a typical 30-year loan, the majority of the payments in the first few years cover the interest.

### Costs Associated with Mortgages and Home Ownership

Commonly, monthly mortgage payments will consist of the bulk of the financial costs associated with owning a house, but there are other important costs to keep in mind. In some cases, these costs combined can be more than the mortgage payments. Be sure to keep these costs in mind when planning to purchase a home.

Because the recurring costs perpetuate throughout the lives of mortgages (exception being PMI), they are a significant financial factor. Property Taxes, Home Insurance, HOA Fee, and Other Costs increase with time as a byproduct of moderate inflation. There are optional inputs within the calculator for annual percentage increases. Using these wisely can result in more accurate calculations.

• Property Taxes a tax that property owners pay to governing authorities. In the U.S., property tax is usually managed by municipal or county government. The annual real estate tax in the U.S. varies by location, normally ranging from 1% to 4% of the property value. In some extreme cases, the tax rate can be 10% or higher.
• Home Insurance an insurance policy that protects the owner from accidents that may happen to the private residence or other real estate properties. Home insurance can also contain personal liability coverage, which protects against lawsuits involving injuries that occur on and off the property. The cost of home insurance varies according to factors such as location, condition of property, and coverage amount. Typically, the annual cost can range from 0.1% to 5% of the property value.
• Private Mortgage Insurance (PMI) protects the mortgage lender if the borrower is unable to repay. In the U.S. specifically, if the down payment is less than 20% of the property value, the lender will normally require the borrower to purchase PMI until the loan-to-value ratio (LTV) reaches 80% or 78%. PMI price varies according to factors such as down payment, size of the loan, and credit of the borrower. The annual cost typically ranges from 0.3% to 1.5% of the loan amount.
• HOA Fee a fee that is imposed on the property owner by an organization that maintains and improves property and environment of the neighborhoods that the specific organization covers. Common real estate that requires HOA fees include condominiums, townhomes, and some single-family communities. Annual HOA fees usually amount to less than one percent of the property value.
• Other Costs includes utilities, home maintenance costs, and anything pertaining to the general upkeep of the property. Many miscellaneous costs can be deceptively high and it is important to consider them in the big picture. It is common to spend 1% or more of the property value on annual maintenance alone.

While these costs aren’t contained within calculations, they are still important to keep in mind.

• Closing Costs the fees paid at the closing of a real estate transaction. It is not a recurring fee yet it can be expensive. In the U.S., even though not all are applicable, the closing cost on a mortgage can include attorney fee, title service cost, recording fee, survey fee, property transfer tax, brokerage commission, mortgage application fee, points, appraisal fee, inspection fee, home warranty, pre-paid home insurance, pro-rata property taxes, pro-rata homeowner association dues, pro-rata interest, and more. Sellers will share some of these costs. It is not unusual for a buyer to pay \$10,000 in total closing costs on a \$300,000 transaction.
• Initial Renovations Some buyers invest money into renovations, features, or updates before moving in. Examples may be changing the flooring, repainting the walls, or even adding a patio.

Besides these, new furniture, new appliances, and moving costs are also common non-recurring costs of a home purchase.

### Early Repayment and Extra Payments

For many situations, mortgage borrowers may want to pay off mortgages earlier rather than later, either in whole or in part, for reasons including but not limited to interest savings, home selling, or refinancing. Most mortgage lenders allow borrowers to pay off up to 20% of the loan balance each year but few may have prepayment penalties for one-time payoffs, mainly to prevent refinancing too soon (which will affect the lender’s profit). One-time payoff due to home selling is normally exempt from a prepayment penalty. The penalty amount typically decreases with time until it phases out within 5 years. Few lenders charge prepayment penalties regardless of home-selling or refinancing, but be sure to review the loan terms carefully anyway just in case.

Some borrowers may want to pay off their mortgage loan earlier to reduce interest. Typically, there are three ways to do so. The methods can be used in combination or individually.

1. Refinance to a loan with a shorter term Normally, interest rates of shorter term mortgage loans are lower. Therefore, borrowers not only repay their loan balances faster, but receive lower and more favorable interest rates on their mortgages. Keep in mind that this imposes higher financial pressure on the borrower due to higher monthly mortgage payments. Also, there may be fees or penalties involved.
2. Make extra payments the majority of the earliest mortgage payments will be for interest instead of principal on typical long-term mortgage loan. Any extra payments will decrease loan balances, therefore decreasing interest and pay off earlier in the long run. Some people form the habit of paying extra every month, while others pay extra whenever they can. There are optional inputs to include many extra payments, and it can be helpful to compare the results of supplementing mortgages with extra payments and without.
3. Make biweekly (once every two weeks) payments of half month’s payment instead Since there are 52 weeks each year, this is the equivalent of making 13 months of mortgage repayments a year instead of 12. Utilizing this method, mortgages can be paid off earlier. Displayed in the calculated results are biweekly payments for comparison purposes.

The Calculator has the tools to help evaluate the options. Please be aware that the rates on mortgages tend to be very low compared with other types of loans. Also, mortgage interest is tax-deductible, and home equity accumulated may be counted against borrowers when applying for need-based college aid. Be sure to consider comprehensively before paying off mortgage loans earlier.

# Mortgage Advice That You Can Trust

Mortgages-Online are a team of mortgage advisers providing mortgage advice NATIONWIDE by remote means. Mortgage advice is delivered via the Internet, telephone and sometimes face to face. We have a wealth of experience having provided online mortgage advice since 1997.

A professional mortgage broker is likely to save you money when a arranging your mortgage. Unlike a lender that can only offer a limited range of mortgages, Mortgages-Online can choose from thousands of mortgages from many lenders. With such a vast choice of mortgage products you can be confident of finding the best mortgage.

It can be time consuming if you have to provide information to more than one lender. Once we understand your needs Mortgages-Online will eliminate lenders that cannot help, determine which lender is the most suitable and then make an application on your behalf. It s all rather painless and we can apply this principle the next time you apply for a mortgage, saving you time both now and in the future.

### What next?

Either telephone and speak directly with a mortgage adviser or complete an enquiry form and we will contact you.

Our initial consultation is FREE and we will be able to tell you immediately whether or not we can help. If we can help then we will need to gather some fairly detailed information; this is something that every lender and mortgage broker must do.

We can start the mortgage application process either before or after you have found a property. Throughout the process we will liaise with the lender and any third parties to keep you updated.

We can also help you with life assurance, buildings and contents and finding a solicitor if you do not have one in mind. We offer a one stop shop for friendly, unbiased mortgage advice that you can trust.

### YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgages-Online is authorised and regulated by the Financial Conduct Authority, No. 442328. Some of our services may not be regulated by the Financial Conduct Authority.

Initial consultation is free. If you decide to proceed with our service then a fee may be charged for our advice. See Charges.

We can recommend mortgages from the whole of market.

Your details remain confidential and are not shared with third parties except solely for the purpose of arranging a mortgage and related products that you purchase through us.

# online mortgage

Welcome to the Police FCU Online Mortgage Center

Our goal is to make your home loan process as simple and stress-free as possible. Whether you are looking for a new home mortgage, second mortgage, or you want to refinance to a lower mortgage rate, our online mortgage center offers the tools and resources to answer your mortgage questions.

We are affiliated with the professional staff of Credit Union Mortgage Association (CUMA), who are available to walk you through your different loan options and rates to help you determine what type of loan would best fit your needs.

Convenient online application process

Quick approvals – get pre-approved in as little as 10 minutes

Monitor rates online with Rate Tracker

Check the current mortgage rates

Quickly and easily obtain a Good Faith Estimate of closing costs – this system is programmed to deliver an estimate specific to your transaction (purchase vs. refinance, specific state, county, etc.).

Need help buying or selling your home? CU Realty Services allows you to quickly and easily access all the tips, tools and listings you need to buy or sell a home.

Find a knowledgeable agent

Search the MLS database and compare property listings

View photos of homes and get maps

Connect with experienced Realtors (and get a rebate when you use them)

Determine the value of your home

Research neighborhood demographics and crime rates

First Time Home Buyer We provide an overall view of the mortgage and home buying process as well as access to various prequalification and payment calculators.

Buying You may not be a first time buyer, but you will still want the most current home buying information – access an overall view of the mortgage and home buying process as well as access to various prequalification and payment calculators here.

Refinancing Trying to figure out if it makes sense to refinance your existing mortgage? We provide mortgage calculators that can help you decide, and assistance on which program would be best for you.

Loan Programs We provide information and guidance on the various loan products (fixed rate vs. adjustable rate) and the different types of mortgages available within each category (15 yr, 30 yr, 5/1 ARM, 7/1 ARM, etc.)

Pre-Qualify Tool This is a quick and easy tool to help you determine your mortgage pre-qualification. This is NOT the pre-approval and no credit reports are obtained. The pre-approval is obtained by clicking Apply Now and beginning the mortgage application process.

Reverse Mortgage The reverse mortgage is a unique type of home loan that allows homeowners age 62 years and older to convert part of the equity in their home into monthly income or cash without having to sell the home, give up title, or take on additional monthly mortgage payments. Click the link for more details.

Apply Now When you are ready, you can click Apply Now to begin the application process.

Contact Us Are you looking to get a hold of a loan officer? Simply click, contact us and complete the short form. A loan officer will get right back to you – calls are typically returned in 24 hours or less.

The Police Federal Credit Union logo is a registered trademark of the Police Federal Credit Union.

# Mortgage Advice That You Can Trust

Mortgages-Online are a team of mortgage advisers providing mortgage advice NATIONWIDE by remote means. Mortgage advice is delivered via the Internet, telephone and sometimes face to face. We have a wealth of experience having provided online mortgage advice since 1997.

A professional mortgage broker is likely to save you money when a arranging your mortgage. Unlike a lender that can only offer a limited range of mortgages, Mortgages-Online can choose from thousands of mortgages from many lenders. With such a vast choice of mortgage products you can be confident of finding the best mortgage.

It can be time consuming if you have to provide information to more than one lender. Once we understand your needs Mortgages-Online will eliminate lenders that cannot help, determine which lender is the most suitable and then make an application on your behalf. It s all rather painless and we can apply this principle the next time you apply for a mortgage, saving you time both now and in the future.

### What next?

Either telephone and speak directly with a mortgage adviser or complete an enquiry form and we will contact you.

Our initial consultation is FREE and we will be able to tell you immediately whether or not we can help. If we can help then we will need to gather some fairly detailed information; this is something that every lender and mortgage broker must do.

We can start the mortgage application process either before or after you have found a property. Throughout the process we will liaise with the lender and any third parties to keep you updated.

We can also help you with life assurance, buildings and contents and finding a solicitor if you do not have one in mind. We offer a one stop shop for friendly, unbiased mortgage advice that you can trust.

### YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgages-Online is authorised and regulated by the Financial Conduct Authority, No. 442328. Some of our services may not be regulated by the Financial Conduct Authority.

Initial consultation is free. If you decide to proceed with our service then a fee may be charged for our advice. See Charges.

We can recommend mortgages from the whole of market.

Your details remain confidential and are not shared with third parties except solely for the purpose of arranging a mortgage and related products that you purchase through us.

# Housing Economic Crisis News Picks

• Household debt rises by \$116 billion as credit-card delinquencies pile up – [2017-11-15]
• Richest 1% own over half the world’s wealth – [2017-11-15]
• After periodic drops of 20 percent, bitcoin tends to come back even stronger – [2017-11-14]
• Venezuela’s Bondholder Meeting Is a Bust as S P Declares Default – [2017-11-14]
• Ray Dalio Buys \$500 Million In Gold EFTs In Q3 – [2017-11-14]
• Subprime Auto Delinquency Is Near Crisis Levels at Non-Bank Lenders – [2017-11-14]
• How to Break Out of Our Long National Tax Nightmare – [2017-11-13]
• The Cattiness Of Wells Fargo Executives Rivals The Ladies From Dynasty – [2017-11-13]
• Debt swap problems pile up in China – [2017-11-12]
• Equifax executives won’t get 2017 bonuses – [2017-11-11]

# Latest Posts from the ML Forum!

### Imploded* Lenders™

ML-Implode.com was created in late 2006 to raise the alarm about the then-burgeoning implosion of the historically-epic housing and economic bubble. Started as a modest web page created by founder Aaron Krowne, this objective was achieved by, uniquely, tracking the in-progress implosion of independent mortgage lending companies then being ignored by a mainstream media in denial of even the existence of the housing bubble. At that time, you were more likely to hear a partyline of “housing always goes up” and juvenile jeers of “bubbles are for bathtubs” from TV’s talking heads, than of even slight concern about a clearly-overextended, already-frozen housing market.

Operated as a broadly-open community forum, ML-Implode quickly took the lead in news about the mortgage implosion and subprime crisis, as industry professionals flocked to the site to share and find out the latest. The site even became, in part, a whistleblower platform, fighting (and winning) half a dozen lawsuits to defend the right of its contributors to post about corruption and malfeasance in financial companies, and be able to do so confidentially.

Despite its initial incarnation being rendered insolvent by these frivolous legal attacks, ML-Implode continues today in a stripped-down, lean-and-mean embodiment, remaining dedicated to tracking the fallout of the 2007-2008 credit crisis. This mission includes keeping tabs on recession/depressionary conditions, the policy response to the economic downturn and continued financial instability, the Fed and other global central bank interventions (including “ZIRP” and quantitative easing), actions and reforms of the monetary authorities, market manipulation (official and private sector), all global geopolitical conflict with economic roots, the evolution of the banking and monetary system (including dollar-alternative “reserve currencies”, gold, silver, and bitcoin and other “virtual currencies”), the effect of the economic turmoil on society, basic themes of economic fairness and justice, and much more.

We continue to doggedly watch all of these interconnected topic areas, daily picking the most important stories and commentaries, and bringing them together in a convenient and comprehensible form on this site. If you share our concerns, utilize one of the icons at the top of this page to “follow” us by twitter, RSS, email, and more.

# First Time Home Buyer – Mortgage Loan Lenders, Connecticut, online mortgage companies.#Online #mortgage #companies

Lender In Connecticut

# Why Use First World Mortgage?

In the unpredictable home lending market, we stand out as one of the most credible mortgage lenders in Connecticut, and we are now the #1 First Time Home Buyer Lender in Connecticut. In addition to this, The Warren Group, a real estate statistics agency, recorded First World Mortgage as “One of the top lenders, and fastest-growing mortgage lenders” overall. We serve as your safeguard and offer you complete security, safety and peace of mind that only the highest-trained professionals will work with and for you. You will be in the hands of one of the most experienced Connecticut mortgage lenders, helping make the home buying experience fun, easy, and stress-free! It’s no wonder why we are the preferred Connecticut mortgage lender of individual homeowners, real estate professionals, home builders and financial advisers.

The process of obtaining a home loan in Connecticut becomes easy when you choose First World Mortgage Corporation. We are accurate, communicate transparently, and have the experience and options to meet all of your CT home mortgage needs. That is why almost 100% of our business comes from referrals!

We can meet all of your Connecticut home loan needs, including:

# Mortgage Calculator.

Up to four people can be named on a mortgage but only two incomes are used, please select from the following:

Product not available

You’ve told us that you already have a mortgage with us and that you’re a first time buyer, please select from the following options:

Placeholder for actual error!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

New to the Halifax, moving house or looking to borrow more?

For interest rates on our Shared Ownership and Shared Equity Mortgages, along with the monthly repayment amounts on Interest only mortgages – book an appointment or call us on 0345 850 3705.

Outstanding Mortgage 0.00

Total Loan Amount 00.00

### REPRESENTATIVE EXAMPLE

A MORTGAGE OF 127,450 PAYABLE OVER 30 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 3.14% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 25 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 547.99 FOLLOWED BY 300 MONTHLY PAYMENTS OF 598.99 .

THE TOTAL AMOUNT PAYABLE WOULD BE 212,872.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 85,422.60 ) AND A VALUATION FEE ( 355 ).

### WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

### REPRESENTATIVE EXAMPLE

A MORTGAGE OF 153,000 PAYABLE OVER 25 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.28% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 20 YEARS , WOULD REQUIRE 60 MONTHLY PAYMENTS OF 669.56 FOLLOWED BY 240 MONTHLY PAYMENTS OF 780.71 .

THE TOTAL AMOUNT PAYABLE WOULD BE 227,974.00 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 74,974.00 ) AND A VALUATION FEE ( 430 ).

### WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

### REPRESENTATIVE EXAMPLE

A MORTGAGE OF 125,000 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 2 YEARS AT 2.24% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 18 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 646.66 FOLLOWED BY 216 MONTHLY PAYMENTS OF 746.25 .

THE TOTAL AMOUNT PAYABLE WOULD BE 176,709.84 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 51,709.84 ).

### WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

### REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 2 YEARS AT 1.69% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 18 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 451.39 FOLLOWED BY 216 MONTHLY PAYMENTS OF 545.83 .

THE TOTAL AMOUNT PAYABLE WOULD BE 128,732.64 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 36,862.64 ).

### WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

### REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.09% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 15 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 468.68 FOLLOWED BY 180 MONTHLY PAYMENTS OF 534.91 .

THE TOTAL AMOUNT PAYABLE WOULD BE 124,404.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 32,534.60 ).

### WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

### REPRESENTATIVE EXAMPLE

A MORTGAGE OF 91,870.00 PAYABLE OVER 20 YEARS , INITIALLY ON A FIXED RATE FOR 5 YEARS AT 2.09% AND THEN ON OUR VARIABLE RATE OF 3.99% FOR THE REMAINING 15 YEARS , WOULD REQUIRE 24 MONTHLY PAYMENTS OF 468.68 FOLLOWED BY 180 MONTHLY PAYMENTS OF 534.91 .

THE TOTAL AMOUNT PAYABLE WOULD BE 124,404.60 MADE UP OF THE LOAN AMOUNT, PLUS INTEREST ( 32,534.60 ).

### WHAT IS A REPRESENTATIVE EXAMPLE?

THIS IS AN ILLUSTRATION OF A TYPICAL MORTGAGE AND ITS TOTAL COST.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

THE RATES AND MONTHLY PAYMENTS SHOWN ARE FOR ILLUSTRATIVE PURPOSES ONLY. THIS IS NOT A MORTGAGE OFFER. BEFORE AGREEING A LOAN A CREDIT SEARCH AND FULL APPLICATION ARE REQUIRED AND OUR LENDING REQUIREMENTS MUST BE MET.

# Mortgage Calculator

Calculate your monthly mortgage payment using the free calculator below. A house is the largest purchase most of us will ever make so it’s important to calculate what your mortgage payment will be and how much you can afford. Estimate your monthly payments and see the effect of adding extra payments.

## Where will mortgage rates head next week?

Mortgage experts predict what will happen to rates over the next week — and why.

## How much house can I afford?

Use this calculator to determine how much mortgage you can afford to take out based on your income and expenses.

## Mortgage Basics

This step-by-step guide will help you understand the sometimes-difficult journey to homeownership.

## Loan Calculator

This loan calculator will help you determine the loan monthly payments on a loan. View Calculator

## Amortization Calculator

How much of your monthly payment will go towards the principal and how much will go towards the interest. View Calculator

## 15 or 30 year mortgage?

Lets us help you decide which mortgage loan is right for you. View Calculator

## Debt ratio Calculator

Your debt-to-income ratio can be a valuable number — some say as important as your credit score. View Calculator

### About our Mortgage Rate Tables

About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders’ terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser’s own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertiser’s phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above \$424,100 May Have Different Loan Terms: If you are seeking a loan for more than \$424,100, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

### Mortgage Calculator Help

Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you’ll pay over the life of your mortgage. To use this calculator, you’ll need the following information:

The dollar amount you expect to pay for a home.

The down payment is money you give to the home’s seller. At least 20% down typically lets you avoid mortgage insurance.

If you’re getting a mortgage to buy a new home, you can find this number by subtracting your down payment from the home’s price. If you’re refinancing, this number will be the outstanding balance on your mortgage.

Mortgage Term (Years)

This is the length of the mortgage you’re considering. For example, if you’re buying new, you may choose a mortgage loan that lasts 30 years. On the other hand, a homeowner who is refinancing may opt of a loan that lasts 15 years.

Estimate the interest rate on a new mortgage by checking Bankrate’s mortgage rate tables for your area. Once you have a projected rate (your real-life rate may be different depending on your overall credit picture) you can plug it into the calculator.

Mortgage Start Date

Select the month, day and year when your mortgage payments will start.

### Mortgage Calculator: Alternative Use

Most people use a mortgage calculator to estimate the payment on a new mortgage, but it can be used for other purposes, too. Here are some other uses:

1. Planning to pay off your mortgage early.

Use the “Extra payments” functionality of Bankrate’s mortgage calculator to find out how you can shorten your term and net big savings by paying extra money toward your loan’s principal each month, every year or even just one time.

To calculate the savings, click “Show Amortization Schedule” and enter a hypothetical amount into one of the payment categories (monthly, yearly or one-time) and then click “Apply Extra Payments” to see how much interest you’ll end up paying and your new payoff date.

2. Decide if an ARM is worth the risk.

The lower initial interest rate of an adjustable-rate mortgage, or ARM, can be tempting. But while an ARM may be appropriate for some borrowers, others may find that the lower initial interest rate won’t cut their monthly payments as much as they think.

To get an idea of how much you’ll really save initially, try entering the ARM interest rate into the mortgage calculator, leaving the term as 30 years. Then, compare those payments to the payments you get when you enter the rate for a conventional 30-year fixed mortgage. Doing so may confirm your initial hopes about the benefits of an ARM — or give you a reality check about whether the potential plusses of an ARM really outweigh the risks.

3. Find out when to get rid of private mortgage insurance.

You can use the mortgage calculator to determine when you’ll have 20 percent equity in your home. This percentage is the magic number for requesting that a lender wave private mortgage insurance requirement.

Simply enter in the original amount of your mortgage and the date you closed, and click “Show Amortization Schedule.” Then, multiply your original mortgage amount by 0.8 and match the result to the closest number on the far-right column of the amortization table to find out when you’ll reach 20 percent equity.

# Mortgage Repayment Calculator

Our free mortgage repayment calculator lets you compare the mortgage market. Compare over 3000 UK mortgage rates with our free mortgage calculator. Simply enter the details below to see the latest rates and monthly repayments for your mortgage. Should you have any queries regarding the mortgage rates obtained from our mortgage repayment calculator please contact us.

Products may or may not be available to you, depending on your circumstances. Please consult a qualified adviser before undertaking any borrowing.

### Do you want Fee Free mortgage repayment advice ?

Once you compare the mortgage rates and remortgage rates on our free mortgage repayment calculator, if you would like fee free remortgage advice or fee free mortgage advice, please complete our simple mortgage enquiry form and we will contact you to discuses your mortgage requirements. We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be 500.

### Go Direct Mortgage Quotes

If you have had credit problems with defaults, CCJ’s, mortgage arrears or Bankruptcies/IVA, we would recommend you do not use our mortgage quote tool. Each lender will have their own criteria depending on many factors, please complete our enquiry form and advisor will be able to look at your mortgage options for you.

### Mortgage calculator

If you are currently in the market for a property in the UK, then before setting up an appointment with a mortgage lender, get a feel for how much you can expect to be paying each month in mortgage repayments using our mortgage calculator. This particular calculator is especially useful if you have decided upon the amount of money you will be borrowing in the form of a mortgage, and the interest rate you will have set. Entering these basic details into our online mortgage calculator UK will give you an estimated monthly repayment figure.

For anyone unsure as to their monthly budget, this tool enables them to go someway in deciding whether the amount they intend to borrow is a realistic sum. Once a mortgage amount has been calculated, this enables you to make contact with an estate agent, who will be more than happy to help you track down a property safe in the knowledge that you are sure what you can afford. If on the other hand you currently have a mortgage and want to see what savings you could make by changing provider, then use our mortgage rate calculator.

### Online mortgage calculator UK

Buying a property can be a stressful event, as apart from the headache of finding somewhere suitable in an area that you like, is the often demanding task of working out how much money you can afford to spend on an initial deposit, and also what monthly payment can fit in with your current budget. We have attempted to make things easier by providing an online mortgage calculator UK that can be used free of charge. By simply entering the basic details of the amount of mortgage you are looking to borrow and the interest rate that you want set, the calculator will work out the monthly payment you can expect to be paying.

This calculator is especially useful to those who are looking to buy a property, but for anyone with an existing mortgage, we have provided calculators, such as the remortgage calculator, to give you an idea how much money you could save by transferring to another more competitive mortgage rate. We hope that whatever your circumstance, whether you have a bad credit rating, or have numerous properties and are looking to save some money, there is a calculator on our site to assist you.

### Mortgage comparison

We believe that all of the calculators on our site can be used to work out most of the important information required to make a decision in regards to mortgages in general. For example, the buy to let mortgage calculator allows you to compare buy to let mortgage or remortgage rates by searching the buy to let mortgage market based on your individual circumstances. For a more wide ranging search of mortgages in general, use the mortgage comparison calculator to track down a mortgage that best suits your individual needs, or the online mortgage calculator UK to find out the payment you will be making based on a specific mortgage amount and interest rate.

These mortgages have been designed for people who are looking for a property and are need of working out their financial capabilities in terms of how much they can borrow and afford to pay back. For those already with a mortgage, the mortgage rate calculator allows you to compare what savings you could potentially make by changing to an alternative, more competitive mortgage rate. We are confident that whatever your circumstances you will find a use for at least one of our mortgage calculators.

### Mortgage payment calculator

If you happen to be a newcomer to the property buying business, then before making contact with an estate agent, be sure to have a firm idea of what mortgage you want, and how much you can afford to borrow. This may seem obvious, but even with the amount of information that can be sought on the internet, people still look at properties they are not completely sure is affordable to them. This wastes buyers, sellers and estate agents time and is ultimately counter productive.

Using the calculators on our site will give you a sound basis from which to refine your property search, and using the mortgage wizard, or mortgage payment calculator, could be a good place to start. By entering your individual details and circumstances, you will be able to search for mortgages that best suit your needs. From there you can use our other calculators to determine expected monthly payments based on your budget. If you are in the market for a buy to let property, then we recommend using our buy to let mortgage calculator, which enables you to search the market and compare between different buy to let mortgage rates.

### Mortgage rate calculator

Whether you are struggling with your current monthly mortgage repayments, or are simply looking to find a better deal than the one you are currently getting, then by using our mortgage rate calculator you will be able to compare how much of a saving you could make by moving to a different, more competitive mortgage rate. This is undoubtedly a useful tool for everyone who is looking to save a few pounds each month, and you never know, you may end up saving a considerable sum.

For first time buyers looking to make their first step on to the property ladder then the calculator to use is the mortgage payment calculator, otherwise known as the mortgage wizard. This handy tool is designed for people to enter their personal details on, which are then taken and used to search for suitable mortgages that best match their individual needs. A host of other calculators can then also be used to determine other useful information you will need to have at hand when doing business with an estate agent, such as monthly repayment budget and what size mortgage you can realistically afford to take out.

# The Best Brand in Mortgage

Our brand is built on integrity, innovation and teamwork. Our brand is our people, our service and our commitment. When you choose BrandMortgage, you’re choosing the best.

# Our Brand is You

When you choose BrandMortgage, you re choosing a partner who will guide you on the path to homeownership.

# A Culture of Giving

Throughout our footprint you will find team members who are invested and engaged in their communities, building a better tomorrow.

## Find a Mortgage Banker

Our team members are located throughout the Southeast to better serve you. Click to find a representative near you.

## Locations

BrandMortgage has numerous locations to serve you. Click to find one nearest you.

## Loan Programs

From conventional to jumbo loans and everything in between, BrandMortgage has just the right program for your needs.

Thank you for everything! You have made this whole process a wonderful and relaxing experience.

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### A Culture of Giving

Many of our team members are members of the community and are also deeply rooted through their involvement with local schools, organizations, sports teams and charities. As a company, we also provide community reinvestment programs, and employ over 200 talented people throughout our footprint. Our company has a top-down culture of giving, whereby our leadership strongly encourages and supports our team members to get involved with charitable organizations.