Mortgage Information
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If you're like most buyers, a home is the most expensive purchase you'll ever make, and you'll probably need some form of financing. There are many lending institutions that offer a variety of mortgage products. Financing options and rates can vary widely, so it is important to do your research and shop around to ensure you get the mortgage that best meets your needs at the best price. A critical factor is ensuring that you are working with a reputable lender that will in the end deliver on its promises. The mortgage meltdown we have experienced has resulted in much tighter lending practices. If a lender is offering a mortgage product that sounds too good to be true, it may very well be! I suggest to all of my clients to contact 2-3 different lenders to compare rates, closing costs, and service. Each lender should provide a Good Faith Estimate and give you ample information on the various mortgage products that you can compare. I would be happy to refer you to some very good mortgage contacts I have in the Dallas area, or to help you in any other way I can to secure the best possible rate and closing costs for your home purchase. |
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Use the mortgage calculators below to assist you in making some decisions around financing your new home.
Mortgage Qualification Calculator
This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.
Mortgage Payment Calculator & Amortization Table
This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.