The Best Mortgage Calculators On the Web! Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... Are Balloon Mortgages For You?
A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common balloon mortgage terms are 5 years and 7 years. After the mortgage term is complete, you will then need to refinance or pay off the remaining balance.
- Monthly payment
- Monthly principal and interest payment (PI). The monthly payment is calculated using a 30 year term.
- Total payments
- Total of all monthly payments over the term of the balloon mortgage. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the term of the balloon mortgage. This total interest amount assumes that there are no prepayments of principal.
- Prepayment type
- The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
- Prepayment amount
- Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
- Start with payment
- This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.
- Savings
- Total amount of interest you will save by prepaying your mortgage.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Animal House >House Odors and Selling
Do you have a dog or cat that lives indoors with the family? A pet can pose a problem when your property is listed for sale. Even if prospective buyers have pets of their own that smell just like yours, they may be repelled by animal odors as they tour your home. If you have a pet odor problem, you should hire a professional to clean and deodorize the furniture and/or carpets that have been affected. Check the cat box frequently and keep the kitty litter fresh.
Some people have allergies to pet hair or irrational fears of certain animals, so it is a good idea to put dogs or cats outside or confine them to one area when your house is being shown. It is hard for buyers to appreciate your home through puffy, watery eyes or in between sneezes! Even if the house is exactly what they want, your chances of selling it will be diminished if the buyers are afraid of being attacked by Fido.
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What is an encumbrance against a property, which may be voluntary or involuntary?
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There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. |
 See More Real Estate Trivia > |
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