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Mortgage Calculator

Fiddling with the numbers to find out what you can afford.

What can a mortgage calculator do for you?

Whether you have a sizeable down payment saved to buy your first home or you're looking for an investment property, knowing what you can afford is an important step in home buying. In this article, you will find an interactive mortgage calculator that can help you theorize on what a mortgage you can afford. The calculator is helpful to get information about the future and will automatically generate an awesome chart and amortization schedule.

When using the calculator it might be tempting to only change the purchase price and down payment of the home to find out what your future payments will look like- however, there is more that goes into calculating the mortgage that is represented. That is why the next part of this article is an important read.

What can't a mortgage calculator do for you?

Despite all the cool features of the calculator, it can't get the most accurate image of what you can afford. The factors affecting your ability to purchase a home will range from your credit score to the housing market, and include what your real estate agent is able to negotiate on your behalf. If you are considering buying a home it is best to schedule an appointment with one of our agents or speak with one of our lenders about getting pre-approved. While playing with the numbers in the calculator is fun, it will ultimately only give you a vague idea of what you are in for during the home buying process. Allow the Amy Jones Group to help you clarify that idea and help you purchase your next investment property, family home, or first home.

www.mlcalc.com

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