Mortgage Calculator
Title Quest Investments, LLC wants to make your home buying experience as easy as possible. We have developed a Pre-Qualification Calculator that will assist you in understanding the general guidelines and ratios used by many financial institutions for mortgage loans. It is important to note that the ratios you calculate on this Pre-Qualification Calculator are only guidelines. The final determination of your loan eligibility depends on many factors, including but not limited to, your credit history, income and employment stability, current indebtedness, financial condition and the amount of your down payment.
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How Much Home Can I Afford? |
The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. |
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Mortgage Loan |
Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule. |
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Should I Refinance? |
How long will it take to break even on a mortgage refinance? That depends on a multitude of factors. These factors include your current interest rate, the new potential rate, closing costs and how long you plan to stay in your home. |
Is buying a home better than paying rent?
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Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision. |
| Credit Line |
Use this calculator to determine how big a line of credit you may qualify for. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages, and any other debt you have secured by your home. |
| Should I Pay Points? |
Should you pay points? Paying points when you close your mortgage can reduce its interest rate, which in turn reduces your monthly payment. But each "point" will cost you 1% of your mortgage balance. This calculator helps you determine if you should pay for points, or use the money to increase your down payment. |
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