Finance calculations can become seriously troublesome, owing to a
huge amount of data needed to be calculated. Even if you manage to
finish off this phase you can never be hundred percent sure if what
you have calculated is right. Either it’s the rates change taking
place on daily basis or a simple calculation error form your side. To
relieve you from this headache Landmark Finance has developed a
“Mortgage Calculator”. This simulated calculator can be found
online on their website. This is free and is designed so that it is
extremely easy to use.
The mortgage
calculator is simple to use and can perform
calculations for many purposes. You can determine what kind of
mortgage, fixed or variable, will be the best option for you. You
can calculate how much loan you can apply for and what you can borrow
exactly. All this can be found by entering some simple information.
Along with the calculator there is also a side bar displaying the
current market rates for mortgage to assist you in filling up the
fields.
- To find out what mortgage amount you are eligible to or the total mortgage payments you’d be making or the total interest you have already paid. Select the tab saying “How much can I afford”.
For this, you need to enter you current “monthly payment” in the relevant tab shown on the calculator and then enter the rate you are paying form the side bar. After hitting the “print report” button you will get your desired results. - Another tab called “What can I borrow” can also be used. First enter the relevant data in the “Gross Annual Revenues” and “Total Monthly Debts” sections and then proceed to fill up the next section. Here you’ll be filling the rates referring to the sidebar and then you’ll be choosing your amortization and mortgage period.
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