1 / 10

What does the mortgage qualifier calculator do?

A mortgage qualifier calculator helps to determine how much you can safely borrow. It determines whether you are qualified to get a mortgage.

Dilurichey
Download Presentation

What does the mortgage qualifier calculator do?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. WHAT DOESTHE MORTGAGE QUALIFYING CALCULATOR IN ONTARIO DO? MORTGAG NORTHWOOD E What beginners need to know

  2. KNOWING THE BASICS What is a mortgage qualifying calculator? A mortgage qualifier calculator takes you through the process of determining how much you can safelyborrow.

  3. IT HELPS YOU TO DETERMINE ANY OF THREE THINGS Mortgage Qualifying Calculator takes all the key information How muchincome you need to qualify for the mortgage How muchyou can borrow What your total monthly payment will be for the loan.

  4. This calculator is most useful if you: Are a new potential homeowner needing to know your budgetconstraints Have decided on a new home but want to ensure you can affordit Are looking to plan and budget for the future WHO IS THIS CALCULATOR FOR?

  5. USING THE MORTGAGE QUALIFYING CALCULATOR The Mortgage Qualifying Calculator is designed to be easy to use and largely self-explanatory

  6. Just fill in the various fields with the information requested. USING THE MORTGAGE QUALIFYING CALCULATOR Start by choosing if you want to base the calculation on your annual income, the purchase price of the home you're looking at or the monthly payment you can afford. Then work down the page entering your other information and the calculator will figure out the other two values for you and display them in gray.

  7. STEP-BY-STEP GUIDE STILL HAVE QUESTIONS? HERE'S A STEP-BY-STEP GUIDE TO LEAD YOU THROUGH IT. Choose want to calculate based on your annual income, or if you ideal price or monthly payment search by thoseinstead. whether you Choose the loan term; that is, how many years you'd like to have to repay the mortgage. Remember that shorter loans mean paying less in interest over the life of the loan, and usually a lower mortgage rate as well. But your monthly payments will be higher than on a longer loan. Add in the remaining details such as the interest rate you expect to get, property tax homeowners's insurance premiums. If you don’t know any of these, leave the default values as these are based upon market averages. payments and know your you can

  8. Select the relevant button to get a breakdown of your costs either annually or monthly. This will be reflecting in your amortization table when you view your report. Continue for your down payment and closing costs. Not that the Mortgage Qualifying Calculator will assume that all of your cash on hand not going toward closing costs will be used for your down payment, unless you check the box to limit your down payment to no more than 20 percent of the purchase price. Enter your monthly payments for any auto cards and payments. Click the green Calculate button to jump back to the top of the tool, which will now be displaying the estimated value of the home you are able to purchase. Click View Report for a simple graph and explanation of how the calculator came to this conclusion. Whatever result you get, click GetFREE Quote to explore your options further. loans, other credit loan

  9. CONTACT NORTHWOOD MORTGAGE EXPERTS IF YOU WOULD LIKE SOME PROFESSIONAL ADVICE OR ASSISTANCE FOR USING MORTAGE QUALIFIER CALCULATOR IN ONTARIO, OUR MORTGAGE EXPERTS CAN HELP YOU NAVIGATE THE SYSTEM AND FIND THE BEST PACKAGE FOR YOUR CIRCUMSTANCES.

  10. Talk toUs Mailing Address Broker License #103497676 Woodbine Avenue Suite 300Markham, Ontario L3R2N2 Email Address info@northwoodmortgage.com Phonenumber 416-969-8130 , 888-257-8130

More Related