Friday, November 07, 2008

Mortgage Loan Payment Tips

The mortgage loan payment will be the largest single expense for any american family. Most people dream of owning in their own home, but they may not be able to afford it for many reasons. Even if you can afford it, you may not have the credit to get what you desire. You might think that if you can afford to pay what you now pay in rent, you may have to rethink that. There are many costs involved with owning a home that you may not have considered.

Your mortgage loan payment should ideally be one fourth of your income. Anything more than that, you may soon fall behind in your payments, which will of course mean that you may lose your house. That’s the last thing you want to happen today, especially with so many foreclosures taking place. You also have to factor in everything that your current landlord takes care of for you. If something breaks, all you have to do is call and your landlord has to get it fixed. This means if the water pipes burst, they have to get someone right away. If the heat goes on the blink, it is no money out of your pocket. When you have your own loan mortgage payment however, you also have to pay for all of these things on your own. Can you afford that?

You also have to factor in property taxes when thinking about how much you can afford for a mortgage payment. You will have to pay these once a year, though it may be due twice or four times a year depending on where you live. This money is above and beyond what you pay for in your mortgage loan payment, and this can quickly put you in debt. If you are barely making it with your mortgage, your taxes are going to put you over the edge for sure.

If you are wondering how to go about this, or if you can afford to have a mortgage loan payment, you may want to talk to someone at your bank. They can help you decide what you can afford, and they may have ideas about how you can fix your credit, or perhaps help you set up a savings plan to help defer some of the costs of homeownership at a later date. If you have monies put aside in savings, emergencies won’t make you dip into your budget, and you will still be able to make your mortgage loan payments when they are due.

A Mortgage Amortization Calculator makes Home Buying Easier!

The Online Mortgage Calculator Top Ten.

Understanding and Using a Reverse Mortgage Calculator

Wednesday, January 16, 2008

After the Commercial Mortgage Calculator you need This

Business owners should always utilize a mortgage calculator when deciding whether to buy a commercial property or even to refinance. If you don't want to do it yourself, then call your accountant and ask him to run the numbers on his commercial mortgage payment calculator. He may charge you to do this. So if you just want to run the numbers first without bothering him right now, you can do it yourself easily. It's almost the same as using a regular home payment mortgage calculator. In my earlier post I covered this in detail. Now, after working those commercial numbers and you decide to move forward, your next step is to find a commercial mortgage program that is the best for you. You really want to work with a search engine that will allow you to receive many quotes back so you can choose the best one. This is all you should do...period! You will never do it any other way once you try it this way because it's easy and effcient; and your quote will be the best...guaranteed too. How I know this is because I've been in the business my whole life and I've never seen better results then those that come from a large engine search base for commercial mortgages. You do not need to talk with anyone in your earlier search phase of looking for the best deal either. That's how nice it is. Once you see your best deal on the your computer screen, then call them to discuss further; or never call at all. Just do it all through emailing Isn't this great? You bet it is. Looking for a commercial mortgage can be a little like shopping for a used car. I don't really like talking to used car salesmen unless I know what I'm getting. By using a commercial mortgage search engine you see what the best deal is first; then you decide who to work with. Beautiful isn't it? Here's my recommendation: try the following most up to date search engine on the web and see your quotes come flooding in. It's a Google sponsored commercial search engine which I highly reccomend and is producing very happy customers. This Google referral with 400 lenders who quote at one time; can be seen by going to commercial mortgage calculator.