The Benefits of Using a Mortage Calculator

mortage calculator

When it comes to finances, calculating the numbers to find out if you can afford your dream home can be a little tricky. Lucky for you, The American Dream has a mortgage calculator just for you! With our mortgage calculator, you can be assured that you have the finances to afford your next home.

What is A Mortgage Calculator?

A mortgage calculator helps buyers determine how much they can afford to pay on a potential mortgage. Using our mortgage calculator, you can put in key information to help you find out how long and how much you will need to pay in order to pay off your mortgage. 

The information needed for our mortgage calculator includes:

  • The Purchase Price

  • The Down Payment Amount

  • The Interest Rate

  • The Loan Term

  • The Property Tax

The Benefits of Using a Mortgage Calculator

It Simplifies Budgeting

If budgeting is not your strong suit, the mortgage calculator helps make budgeting for your future home simple. After you have entered the key information into our mortgage calculator, you can quickly assess if you can afford to buy a particular home. With this information, you can have a better understanding of what you can afford as you search for your new home. If the calculator informs you that you cannot afford to buy a home, you can at least have a better understanding of how much you need to save to achieve your dream home. 

It Shows You Your Options

The mortgage calculator is flexible, meaning that you can try different interest rates or down deposit amounts to show you the many opinions that are available to you. 

It Saves You Time & Energy 

There is no need to arrange a meeting with a mortgage advisor to find out if you qualify for a mortgage when you have the tools to do so at your fingertips. Mortgage calculators use the same information banks use to determine your eligibility and are also a great way to help you understand how mortgages work.

Try out our mortage calculator here

The American Dream aims to help you succeed in achieving your goal of owning your dream home. For more information about how we can help you achieve that goal, contact your local agent!

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