The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... Are Balloon Mortgages For You?
A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common balloon mortgage terms are 5 years and 7 years. After the mortgage term is complete, you will then need to refinance or pay off the remaining balance.
- Monthly payment
- Monthly principal and interest payment (PI). The monthly payment is calculated using a 30 year term.
- Total payments
- Total of all monthly payments over the term of the balloon mortgage. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the term of the balloon mortgage. This total interest amount assumes that there are no prepayments of principal.
- Prepayment type
- The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
- Prepayment amount
- Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
- Start with payment
- This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.
- Savings
- Total amount of interest you will save by prepaying your mortgage.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Working With An Agent >Making Choices
Buying a home isn't easy. You may have a good idea of what you want and how much you want to spend, but your search produces a wide array of homes on the
market and a bewildering set of financing options.
As your real estate agent, their job is to minimize the confusion and help match you to the best home and loan for your needs and pocketbook. The agent will listen to your requirements and eliminate from consideration the properties that aren't suitable for you. If there is a gap between your taste and how much you feel comfortable spending, I can help you decide
where to compromise and can suggest financing plans to increase your buying power. When you have selected a home, your next step is to find a lender, a qualified structural inspector, and a termite inspector.
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What high-profile rental property rents for $13,500 a month although the star hasn't lived there for over 20 years?
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Shirley MacLaine's name is still used to promote her Encino, CA, estate even though she hasn't lived there in years.
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Eric Burch and Ann Burch Crye-Leike Realtors, Jonesboro Branch 2907 South Caraway Jonesboro, AR 72401 Eric's Cell: 870.919.4968 Ann's Cell: 870.243.1332 Office: 870.268.4008 Fax: 870.931.1430 Main E-Mail: team@ericburch.com
The name Eric Burch is synonymous with excellence in the Jonesboro real estate market. In our first four years, we have closed over 50 million in real estate transactions. For 2009, our team was named the Top Selling Residential Team for Jonesboro. And Eric has been voted Jonesboro's Local Favorite Real Estate Agent for the third year in a row. Eric has definitely made a name for himself and his numerous awards and increasing sales numbers are proof that he and his team are willing to go that extra mile for their clients. With The Eric Burch All Star Team you are not getting just one realtor. You are getting a whole team on your side. This team consists of four realtors, a marketing specialist and a virtual assistant. Eric's wife, Ann, is an associate broker and works as Eric's full-time assistant and closing agent. Richard Wimberley, also a licensed agent, is our buyer specialist, concentrating on the specific needs a buyer in search for a home. Shane McBride is our newest team member and is a licensed agent. Scott Throgmartin is our personal builder, working to build nice spec and custom homes. Jennifer Jones is our seller coordinator, marketing specialist and helps with listing maintenance. This team has proven success and is willing to work hard for you. Give us a call today! 


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