My Blog

Does a Bedroom Need a Closet to be a Legal Bedroom?

Bedrooms are one of the most important selling features in a home, so it is important as a home seller or home buyer that you understand what you can call a bedroom and what you can't. According to a recent article by Cathie Ericson published on August 15, 2020 on Realtor.com titled: ... » Learn More about Does a Bedroom Need a Closet to be a Legal Bedroom?

Your Home’s Curb Appeal

When selling a home, first impressions do matter. Your home’s curb appeal is the first thing a potential buyer will see. Your exterior and landscaping are a significant part of your home's worth. Several types of landscaping and outdoor features can add both functionality and resale ... » Learn More about Your Home’s Curb Appeal

Drought Friendly Plants – 5 Plants You (Almost) Never Have to Water

By: Lisa Kaplan Gordon Published May 29, 2012 Every plant needs water. But drought-resistant varieties need only dainty sips once they’re established, making them perfect for low-rainfall areas and low-energy gardeners. Susan Gottlieb, an expert on drought-tolerant gardens, says native ... » Learn More about Drought Friendly Plants – 5 Plants You (Almost) Never Have to Water

Mortgage Calculator Help

You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.

If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.

Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.

Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.

If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)

Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.

The term (duration) of the loan is expressed as a number of months.

60 months = 5 years

120 months = 10 years

180 months = 15 years

240 months = 20 years

360 months = 30 years

Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/mortgage-calculator

Does a Bedroom Need a Closet to be a Legal Bedroom?

Your Home’s Curb Appeal

Drought Friendly Plants – 5 Plants You (Almost) Never Have to Water

Contact Gerry

Gerald Light, PSA, ABR, SRES, green, SFR, AHWD

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Contact Gerry

Gerald Light, PSA, ABR, SRES, green, SFR, AHWD