Mortgage Info & Your Pre-Approval

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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.

I would be happy to refer you to some very good mortgage contacts I have, or to help you in any other way I can to secure the best possible rate for your home purchase.

Rent vs. Buy Calculator

Use the advanced mortgage calculators below to assist you in making some decisions around financing your new home.

Advanced 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.


However, in this challenging market it is important to have the pre-approval BEFORE you are looking at homes. Every offer MUST include a pre-approval letter from a lender – otherwise it will be dismissed. And this is not at all about you not qualifying … but pre-approvals take time. And mortgage companies are not going to issue one before they have all the information they need to calculate your allowable monthly mortgage cost. At a minimum, they will look at the last TWO tax returns, bank statements and pay stubs. They will also run a credit report, which is completely different from what we as consumers can access through various online services. In other words, it takes a couple of days. So, if you do not have your pre-approval and are looking at houses over the weekend, your offer may come in on Tuesday whereas other buyers already made an offer on Saturday, negotiated and have an accepted offer by Tuesday morning. 

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