Native Denver Area Real Estate Agent & Relocation Specialist RE/MAX Alliance Arvada - Anthony Rael, Denver Realtor

Home Mortgages - How Much Can You Afford? --- www.anthonyrael.realtor

How Much Home Can You Afford?

Most home buyers don't really know what they can and can not afford to spend on a home. Why? Because the amount of money you will actually pay on your mortgage each month depends on more than just the amount of your mortgage loan. The interest rate and term of loan must also be considered.  Don't be fooled by some of the mortgage calculators out there - they are only quoting you the principle & interest payment (P&I).  It's extremely important for you to factor in other monthly homeowners fees such as taxes, insurance and homeowner association fees (HOA's) to get a more accurate estimate* of what you total house payment will be.

MONTHLY MORTGAGE PAYMENT CALCULATOR

Enter Values Here
( Please do NOT use commas )
Loan Amount:  
Interest Rate:  
Years/Term:  
Annual Taxes:  
Annual Insurance + HOAs:  

Results Display Here

Monthly Principle
and Interest:
Monthly Taxes:
Monthly Insurance and/or HOA Fees: 
 

TOTAL PAYMENT:

 

*The calculator above is provided as a tool to help you determine the total payment that you might possibly qualify for. Use of this tool in no way guarantees a loan amount or payment amount that you will qualify for. Depending on your loan and down payment, you may be required by the lender to carry mortgage insurance (MI) which can increase your overall monthly mortgage payment.

Denver Area Preferred Mortgage Lender / Mortgage Broker

  Home Mortgage Alliance - Tiffany Swisher - (303) 327-6689
  Fairway Independent Mortgage - Kari Abt - (303) 489-1205

Getting Pre-Approved for a Home Loan

Getting pre-approved for a home loan is an essential part of the home buying process.  It helps prevent you from looking at and falling in love with properties that you simply can't affordThe pre-approval process is relatively painless and can be done over the phone in about 10-minutes with reputable mortgage loan officer. Be prepared to be open and honest about your financial situation and provide complete information.  Once you decide to apply for a home loan, this is the information you will need to get together for your loan application:

1. W-2's for the past 2 years
2. Most recent paycheck stubs covering the last 30 days
3. Residence addresses for the past 2 years
4. Names & addresses of each employer for the past 2 years
5. Last 2 months bank statements for all checking/savings accounts
6. Names, addresses, account #'s & monthly payments on all open loans
7. Addresses of any other real estate owned
8. Loan information on all real estate owned
9. Money for credit report and appraisal
10. Landlord names and addresses - past 2 years
11. FHA loans: Photo ID and Social Security card

I've heard about a loan "pre-qualification" - how is that different from a "pre-approval"
CLICK HERE TO LEARN MORE ABOUT LOAN PRE-QUALIFYING & PRE-APPROVALS

 

Buying a Home with VA Loan?

Buying a Home with a VA Loan? - Get Approved for VA Home Loan Financing - VA Resources in Denver, Colorado



HOME   |  SEARCH HOMES & CONDOS FOR SALE   |   BUYING YOUR DREAM HOME   |   SELLING A HOUSE   |   GET PRE-APPROVED FOR A HOME LOAN   |   HOW MUCH CAN YOU AFFORD?   |   SITEMAP


© 2016 ▪ .REALTOR WEBSITE FOR WWW.ANTHONYRAEL.REALTOR | ALL RIGHTS RESERVED
Anthony Rael  |  REMAX Alliance - Arvada  |  5440 Ward Rd., #110  |  Arvada, Colorado 80002  |  303.520.3179
Colorado Association of REALTORS Media Spokesperson for the Denver Region Quarterly Real Estate Market Updates
Denver Metro Association of REALTORS - Chairman of the Denver Metro Area Market Trends Committee

Denver Metro Association of REALTORS National Association of REALTORS Colorado Association of REALTORS
 AnthonyRael.com  |  SearchDenverHomesForSale.com  |  HomesForSaleDenverColorado.com  |  SearchHomesInDenver.com  |  DenverRealEstateMarketSnapshot.com

Become a Fan of Anthony Rael - REMAX Alliance on FacebookNetwork with Anthony Rael on LinkedInFollow Anthony Rael on Twitter @anthonyrael


Buying a Home - Everything You Need to Know - Denver REALTOR Anthony Rael - REMAX Selling a House - Maximizing Your Equity - Denver REALTOR Anthony Rael - REMAX Understanding The Market - Should I Buy, Sell or Invest? - Denver REALTOR Anthony Rael - REMAX

Anthony Rael - RE/MAX Alliance - www.anthonyrael.realtor - 303-520-3179