Mortgage Calculator

As a renter, you undoubtedly have wondered what the cost differences are between owning and renting. At some point you will want to find out if you can afford to buy. The first step is to contact a lender. A loan broker will have you fill out a loan application, request specific financial documents from you, and run your credit. With this information, your loan broker will be able to inform you what steps you need to take to prepare for home ownership. Eventually, he will approve you for a loan and give you all the details you need during your search: how much down payment you will need, what your interest rate is and most importantly, the loan amount you are qualified for. Once you have this information, you can use this handy tool below to get a good monthly cost estimate on individual homes you find: