Released on = March 28, 2006, 6:48 pm

Press Release Author = Calculate-Your-Loan.Com

Industry = Real Estate

Press Release Summary = Your dream house may not be everyone else\'s idea of \"Home,
Sweet Home,\" but it\'s going to be all yours. Now if you can just figure out how to
finance that bit of real estate.

Press Release Body = One kind of mortgage calculator (\"how much house can I afford\"
type) takes a look at your budget and, with your input, works out
how much you can afford to pay, either monthly or annually. Some
are not comprehensive enough to take into account taxes,
insurance and the increased costs of homeownership. It\'s worth
your extra time to pull up several of these mortgage calculators
and run your numbers through them for comparison. Then you\'re
ready for the next step.

The fixed rate mortgage gives you the same monthly payment for
the life of your mortgage. That\'s what you just worked through.
This means you can set up your household budget more precisely
and have greater control over how your money is spent. A \"how
much can I borrow\" mortgage calculator helps you work out how
much you can afford to pay for the house altogether.

Can you afford that dream home? Maybe yes; maybe no. It also
depends upon the interest rates you negotiate with the lender, an
increase in the size of your downpayment, the number of years you
want the note for and the actual price you negotiate for the
house. Using the mortgage calculator, you can input these factors
individually and see what happens to your bottom line.

A small additional prepayment to your regular mortgage payment
may be what pushes you over the top. A prepayment mortgage
calculator can show you what it means over the life of your note.
The beauty of the prepayment is that it is optional, not
contractual. Unlike an Adjustable Rate Mortgage (ARM), you are
not locked in to an increase every one to five years. You\'re only
responsible to make the original mortgage payment.

If you are not so financially constrained with a monthly budget,
and prefer to have a lower rate of interest to start, then use an
ARM mortgage calculator. This will give you a rough idea of
monthly payment over a period of time. ARMs do have the distinct
disadvantage of putting your home in danger financially should
the interest rates rise dramatically. You need to use the
mortgage calculator to find out what your optimum interest rate
would be before you reached that financial crisis. Make sure that
the price of the house you buy gives you quite a large safety net
so that the interest rate can rise without danger.

The beauty of mortgage calculators is that you get experiment
before committing anything to paper or even speaking realtors or
lenders. You find the information you need to complete the
mortgage calculator\'s questions by using your own financial
information, an approximate house price and the rates advertised
on any piece of junk mail that\'s arrived in your mailbox. You
work in the privacy of your own home without the fear of being
hounded by a salesman doing follow-ups!

Our Mortgage Calculator Tips Article Page
at:http:///www.CalculateYourLoan.com features up-to-date
articles explaining what kind of information you can expect from
mortgage calculators.



Web Site = http://www.CalculateYourLoan.com

Contact Details = Paul Majestyck||10300.W.Charleston Blvd,Suite 13312||Las Vegas ,
89135||$$country||||702-809-8919||Info@CalculateYourLoan.com||http://www.CalculateYourLoan.com