How Much House Can You Afford?
Your monthly payment is made up of several parts, the largest of which is principal and interest, or what is referred to as P&I. You will also have monthly taxes and homeowner's insurance added to this, as well as a possible monthly mortgage insurance premium. The handy calculator below will give you a basic idea of what your payments will be, based on your down payment, for the home of your dreams.
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Many factors go into determining the size of a home loan, and all lenders require an application before making a commitment.
Contact us for more information about financing your next Las Vegas real estate purchase.