HI Active Rain comrades, I am a mortgage broker and I have a real easy to use Mortgage and Debt to Income Calculator.  You can either add this link to your favorites or save the excel spread sheet to your computer.

All you have to do is input the numbers and it will give you the important numbers you all want to know.

I use it all the time because it is the fastest way to answer the question that you will get the most, "how much will my payment be...?

 Also it has a place where you can enter income and liabilities and it will give you the debt to income ratio.  If you are a realtor use the rule of thumb that below 40% dti will usually get you whatever you want.

 www.cookcommglobal.com/MortgageandDTIcalculator.xls

 

John Cookman

 
Post is included in group: Realtors®
Post is included in group: Mortgages
Post is included in group: The Art Of Marketing You
Post is included in group: All About Mortgages/Mortgage Networking
Post is included in group: RE/MAX Active Rain Bloggers

7 Comments on If you want an accurate, easy to use, Mortgage calculator then click here...

Very Nice.

Good tool and thanks for your post

Tony

04/24/2008 02:51 PM by Tony Grego with AmeriSave

Thanks for this. It can come in handy when I can't reach my lender. What about PMI? How do you calculate that in your calculator?

04/24/2008 03:09 PM by LaNita Cates (REMAX of Joliet)

Well, to be honest Private Mortgage Insurance is so variable pending the deal itself that it would be hard to put it in a calculator scenario like I haved drawn up but here is a mortgage broker trick to figuring it out.

 Goto, http://www.mgic.com/is/html/ratefinder.html 

This is a PMI company that allows you to get a quote and you will be very close to what the actual payment.

04/24/2008 04:30 PM by John Cookman Sr. Loan Officer (Cole Mortgage)

 Interest only home mortgage loans have both advantages and disadvantages. A lot depends on your personal case. In order to choose the best mortgage types compare several option. Each type has its own pros and cons. You can find a low interest lender here http://www.fizber.com/sale-by-owner-home-services/mortgages.htm

07/17/2008 09:30 AM by Bruklin Stiff

John - that is pretty cool. I just saved it to my desktop. 

07/17/2008 10:27 AM by Heather Rankin Lake Powell Utah Arizona Real Estate (ERA Utah Properties)

John-Thanks for this great tool, I also saved it to my desktop.

Joe

07/17/2008 05:32 PM by Joseph D. Federico, Westwood, MA Real Estate (RE/MAX Landmark)

that is a nice calculator - thanks        

08/02/2008 10:53 AM by Raleigh North Carolina Zero Down Payment Home Loans (Ricardo Cobos)

Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Find NC real estate agents and Raleigh real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved