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"I had never bought a house by myself before and Eric made it very easy."
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Real Estate - Homes - NUMBER1EXPERTS Sell More!
The Eric Burch All Star Team is one of The Top Selling Real Estate Experts™
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Mortgage Calculators
Welcome > Resources > Mortgage Calculators > Should You Rent or Buy? ...

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... 

Should You Rent or Buy?

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. Click the "View Report" button for a detailed look at the results.

This Financial Calculator requires a Browser with Java Support


Definitions

Price of home
Purchase price of the home you wish to buy.

Cash on hand
Cash you have for the down payment and closing costs.

Interest rate
The current interest rate you can receive on your mortgage.

Term in years
The number of years over which you will repay this loan.

Property tax rate
Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.

Home insurance rate
Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.

Loan origination rate
The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.

Points paid
The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.

Other closing costs
Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.

Total closing costs
Total upfront costs to close your loan. This is the sum of the loan origination fee, amount paid for points and other closing costs.

Total for down payment
Total funds remaining for down payment.

Mortgage amount
Total amount of loan.

Investment return
The rate of return you could receive if you invested your closing costs and down payment instead of purchasing a home.

The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Monthly rent payment
Amount you currently pay for rent per month.

Income tax rate
Your current marginal income tax rate.

Expected inflation rate
Inflation rate used to adjust amounts subject to annual increases. These amounts include rent, insurance and tax payments.

Home appreciates at
Annual appreciation you expect in the home you are purchasing.

Future sales commission
The percent of your home's selling price you expect to pay to a broker or real estate agent when you sell your home.

House payment
Total of principal, interest, taxes and insurance (PITI) paid per month for your home. Insurance includes Principal Mortgage Insurance (PMI) and homeowner's insurance.

Principal payment
Total of principal paid per month on your mortgage.

Tax savings
The value of the tax deduction you receive on your mortgage's interest and home's property taxes. For example, if you have $900 in interest and $100 property taxes per month, the value of the tax deduction would be $280. (At a tax rate of 28%).

Net house payment
Your house payment minus the value of the tax deduction and principal payment.

Net home price
Net selling price of your home after subtracting any sales commissions.

Monthly PI
Monthly principal and interest payment.

Monthly PMI
Monthly cost of Private Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year.

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.



School Reports in Jonesboro, Bono and Brookland, Arkansas
"A model of how the Internet can facilitate the process of deciding where to send your children to school"
- America's Best School Profiles by
The Heritage Foundation

Arkansas Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.
  Schools in Jonesboro, Bono and Brookland 



Real Estate Tips
Time to Move >A Well Schooled Decision

The quality of a school district is an important determinant of the market value of a house. For homebuyers with children, the quality and reputation of the local school system may be as critical to their decision as the appeal of the home.

The desire to give their children a quality education usually causes parents who are in the market for a home to ask questions about the local school district. What is the annual expenditure per pupil and the average class size? How do the district's standardized test scores compare with the national mean? Are special education programs available? What percentage of high school graduates go on to college? What is the physical condition of the schools and the district's record in handling school bond proposals? Parents may also want to know the school board's educational philosophy.

A professional real estate agent has the experience and knowledge to help you choose the right community and schools for your family.

See All Tips In The "Time to Move" Category >
See Complete Library Of Hundreds Of Tips In 30+ Categories >

Real Estate Trivia
Q 
What is the highest altitude hotel in the world?

A 
The Hotel Everest View sits at the record altitude of 13,000 ft (3,964 m) above sea level, in the rarified atmosphere of Namche, Nepal, the village closest to the Mount Everest base camp.
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The Eric Burch All Star Team, REALTOR®, real estate agents and broker for Jonesboro, Bono and Brookland, Arkansas home listings, property and land for sale - NUMBER1EXPERT(tm)

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: eric@ericburch.com

The name Eric Burch is synonymous with excellence in the Jonesboro real estate market. In 2006, our first year in real estate, we had 45 transactions, 4.5 million in sales and were awarded "Rookie of the Year" by the Jonesboro Board of Realtors. In 2007, we had 80 transactions, 12 million dollars in sales, named #1 in sales at the Jonesboro Branch of Crye-Leike Realtors, named "Jonesboro Local Favorite Realtor" by The Sun Newspaper, and awarded the Multi-million Dollar Sales Award. For 2008, we have set a goal to reach the 20 million dollar mark. Wouldn't you like to be a part of these numbers? Eric has definitely made a name for himself and these 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 three realtors, a marketing specialist and a virtual assistant. Eric's wife, Ann, is a licensed realtor and works as Eric's full-time assistant and closing agent. This year we added Richard Wimberley, a licensed agent, as a buyer specialist to concentrate on the specific needs a buyer has in search for a home. And most recently, we have added Kellie Bridges as a marketing specialist to work directly with the seller. This team has proven success and is willing and able to work for you. Give us a call today!

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