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Kimberly Said:

How to calculate break-even point on a home sale?

We Answered:

If you have kept track of all your expenses, then just add them up and add to what you paid for the home. So it would be something like this:
Original cost+down payment+total of all payments made+your closing costs when you bought the house+insurance+closing costs when you sell+maintenance and repair+realtor fees+++whatever else you spent or will spend=the amount you need to sell for to break even.

Robin Said:

Where can I find a mortgage calculator that calculates the total cost for your home based on monthly payments?

We Answered:

I believe you are asking for an amortizing schedule which should show you the total amounts of principle and interest over the years. Do a google search for it.

Frederick Said:

I know what I want my monthly mortgage to be. How much home can I afford?

We Answered:

Look for a piti calculator. You may have to work it some, to figure out what the range is that you are looking for. Or, you might find it easiest to just go to your bank/credit union and ask a loan officer to do the math for you. Give them the monthly number you want (including tax, insurance, etc.) and they can ballpark how much house that is.

Tiffany Said:

Are home mortgage calculators wrong or why are the salaries always way below the housep prices?

We Answered:

Income is based on your gross amount.. before taxes, which is misleading because no one brings home the amount before taxes. A lot of people ARE renting nowadays because there really isn't a lot of commitment and also becuase people can't sell their houses so they put them up for rent.

James Said:

I did a mortgage calculator and it said I can only afford a $35,000 mortgage, are there other options?

We Answered:

Don't worry too much about what a mortgage calculator gave you as an answer. While I can tell you that Quicken Loans calculators will give you a great answer with as much information as you input, the real story lies with several factors that you need to discuss with a mortgage professional.

First, a calculator can't know your credit score. This is very important in getting a mortgage. Also, there are other several other variables that can affect how much you can borrow such as (this is just a small example):

*length of employment history
*assets (the things and money you have now)
*history of bankruptcy
*retirement savings you may have

I've never seen a mortgage calculator that asks for that information, and each can affect what you qualify for.

My advice is to get in touch with a trusted mortgage professional that can give you an honest and full review of what you qualify for. If you aren't sure who to work with, try the most time-honored tradtion. Ask people you trust!

Your family and friends are probably the best resourse you'll ever have for finding a mortgage professional that will give you the best possible deal. I can tell you first hand that at Quicken Loans, referrals are a huge part of our business.

So don't worry what a mortgage calculator tells you. A mortgage calculator is only a research tool to get you an idea of what you might be able to qualify for. Although they usually are great and I recommend them to my friends, they aren't the final word.

The final word is a trusted and qualified mortgage professional that will get you exactly what you qualify for.

Good luck and don't worry too much!

Kathryn Said:

What is the Best Mortgage Calculator for Home Equity Loans and Home Refinancing?

We Answered:

You may want to download free OpenOffice, which includes spreadsheet totally compatible with Microsoft Excel.
http://www.openoffice.org/ (version for Windows and version for Linux both are available to download).
There is a plenty of formulas and even macros suitable for any needs. Some macro could be downloaded from web sites of sharks.

The best solution could be also to not taking any loan at all. Saving account with 4.5% per annum, monthly payments and compound interest is your friend!!! In this way, bank gonna pay you, not vice versa. You cannot get loan with 4.5% interest, right?

So, it can get you your home in not so long time and sets you free. Your heart will be filled with joy and your kids will be grateful to you for not having any debts and financial obligations.