| There are many decisions to make when securing a | | | | take out so that your monthly payments are |
| new home loan or a refinance. There are equally as | | | | affordable? |
| many decisions to make when deciding how much | | | | - Fixed rate or interest only? See the differences and |
| your monthly mortgage payment should be. | | | | decide. |
| Remember, it is up to you. The minimum payment will | | | | - Time to refinance? See what a new rate will do for |
| be determined by the amount you borrow and what | | | | you. |
| the interest rate is, but the amount you pay on top of | | | | - Stop renting? Is it time to buy? |
| the minimum is completely up to you and can save | | | | - Down payment or points? Help in making this |
| you a tremendous amount of money. This is just one | | | | decision. |
| way a house loan calculator can help borrowers. | | | | - Loan term. Help in deciding the length of loan you |
| A house loan calculator is a great tool and there is one | | | | should go with. |
| for each need. Below is a short list of the most often | | | | - APR. Figure out what the APR will be. The interest |
| used house loan calculators. | | | | rate the lender is offering is only half the battle. |
| - Required income. Figure out how much you have to | | | | - Type of refi. This one will help you decide which type |
| make to qualify for a specific loan. | | | | of refi will work best for you. |
| - Minimum payment. How big a loan can you afford to | | | | |