| So many people today are forgetting this very | | | | 2) A very clear expectation of what your maximum |
| important step before securing a mortgage loan. | | | | loan payment can be prior to talking with your loan |
| That is...to calculate exactly how much you can afford | | | | representative. |
| to pay on your mortgage. | | | | Provided you stay committed to not exceeding your |
| This may seem very basic, and you may even do this | | | | maximum payment amount, this is to your advantage, |
| step early in the process...but more often than not, | | | | as it will make it far more difficult for your mortgage |
| after a lender puts in their 2 cents, your target | | | | representative to inflate your monthly payment amount |
| mortgage payment numbers may expand well beyond | | | | within your closing documents. |
| what you planned before you even know what hit | | | | 3) A good understanding of how your mortgage |
| you. | | | | payment breaks down...so you know exactly where |
| Don't make this same mistake many Americans' do. | | | | your hard earned money is going. |
| Always have the tools you need by your side...and | | | | 4) A good check point to insure the mortgage terms |
| keep them handy throughout the entire loan | | | | you are looking for are realistic, and will fit within your |
| process...even at closing. | | | | budget. This can help you position yourself to find a |
| One of the most important tools you can use during | | | | mortgage loan that is right for your needs. |
| your loan process is a mortgage loan calculator. This | | | | A mortgage payment calculator helps arm you with |
| can provide you with: | | | | important information about your loan payment, and |
| 1) A very clear understanding of how much you will | | | | can ultimately save you thousands in the long run...so |
| owe on your mortgage every month (including taxes | | | | make sure you use this informative tool prior to |
| and insurance). | | | | securing your next mortgage loan. |