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.
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Selling Your Home >The Best Real Estate Agents
The best real estate agents in today's marketplace are becoming even better about marketing the homes they list to the public, as well as to other agents who have potential buyers.
When you are interviewing prospective real estate agents to help you sell your home, ask how they find buyers. In the past, a "For Sale" sign would go into the ground, the basic information went into the Multiple Listing Service, and then there was an occasional Sunday classified ad and an "open house". If the house did not sell right away, the agent might recommend a price reduction.
Agents today are much more sophisticated and pro-active about getting people into their homes. They rely on computers, direct mail, telemarketing, and just plain clever ideas that no one else has tried. Ask prospective listing agents for two things--a written analysis of what is happening with housing prices in your area and a marketing plan which outlines how they would get your home from "For Sale" to "Sold".
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Who received the largest land grant ever given to an English subject for only two beaver skins per year?
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William Penn, the Quaker leader, received Pennsylvania and Delaware to settle a debt owed his father by King Charles II. |
 See More Real Estate Trivia > |
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Roosevelt Mompremier
SMG Realty
4975 S. Fort Apache Rd. #105
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Fax: 702-382-1665
RooseveltMompremier@NUMBER1EXPERT.com
Roosevelt Mompremier’s primary mission is to make a difference in people’s lives.
As an author, a family man, and a humanitarian, he believes in going the extra mile. “Service to others has its own reward,” he says. “I take my client’s needs to heart in every transaction.”
Specializing in locating highly discounted properties throughout the entire Las Vegas valley, Roosevelt and his staff are determined to not only exceed your expectations, but to be the resource you depend on year after year, home after home. He's aggressive, prompt, talented, easygoing and fun. So whether you’re looking to rent, lease, buy, invest or sell a home, you can count on his unique and unparallel service. Call him today at 702-480-2496.
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