I love mortgage calculators. They're a great way to start the preliminary pre-approval process. I generally recommend starting the financial process of home buying a year in advance. This allows ample time to fix errors on your credit report, contribute more towards your down payment and reserves and ensure all your bills are paid on time every month (of course you should never pay creditors late. In case you have, a year gives you time to clean things up).
During the year process, you should have an idea of how much you can afford, based on your current finances. This is a great time to use mortgage calculators. They cannot take the place of an experienced loan officer, but can get you started on the right path. They're a handy tool and can calculate different financial scenarios. Here's a list of mortgage calculators that have come in handy:
What Will My Monthly Payment Be? https://www.uamc.com/locator/CalcTwo
What Price Home Can I Afford? https://www.uamc.com/locator/CalcSeventeen
How Much Can I Borrow? https://www.uamc.com/locator/CalcOne
What Will My Closing Costs Be? https://www.uamc.com/locator/CalcNine
Should I Rent or Buy? https://www.uamc.com/locator/CalcTen
Should I Refinance? https://www.uamc.com/locator/CalcEleven
Should I Make Additional Payments? https://www.uamc.com/locator/CalcSixteen
Should I Pay Points? https://www.uamc.com/locator/CalcFive
Which Term Is Better? https://www.uamc.com/locator/CalcSix
How Much Will Adjustable Rate Payments Be? https://www.uamc.com/locator/CalcThree
How Can I Reduce Mortgage Insurance Costs? https://www.uamc.com/locator/CalcThirteen
I hope you find these calculators helpful. If you questions on buying or selling a home, I can help!
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