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Use this calculator as a tool to help determine how much home you can afford. The results from this calculator do not pre-qualify you for a loan. Please be sure to visit one of our preferred lenders to determine the best loan opportunities for you. - Subtract your estimated down payment from the property price and enter the value in "Loan Amount" (Remember that if the down payment is less than 20% of the sale price you will have the added expense of Mortgage Insurance which is not figured into this calculation.)
- Enter the current interest rate. Contact ... to find that out!
- Estimate Annual Tax and Insurance and enter these values.
- To test the effect of different loan periods try alternatives to the default of "30" years.
- Each time you change a value hit "Calculate Now" to see what the effect is.
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