With a mortgage, knowing your financial options is crucial. We know that at times the whole process of availing a mortgage can seem overwhelming and confusing which is why at AML Mortgage, we offer you one of the most efficient tools to make your life easier, our mortgage calculator! It provides you with important information on your possible monthly payments, interest rates and loan terms so that you can budget for the home of your dreams.
A mortgage calculator removes the guess work from the equation. You enter in some key information about your loan — loan amount, interest rate, and length of the loan — and you get a quick estimation of what your monthly payment will be. This helps you:
Manage Your Budget: See how a mortgage fits into your plans.
Compare Loan Scenarios: Determine the difference in payments between various interest rates or loan terms.
Saves Time: No manual calcs is required for report making and immediate reports.
Our mortgage calculator is easy to use. You’ll need to input:
Loan Amount: How much you intend to borrow.
Interest Rate: The APR (annual percentage rate) your lender provides.
Mortgage Type: The type of loan, usually fixed-rate or adjustable-rate.
Down payment: The upfront amount you’ll pay (this can really make a difference in your monthly payments)
The calculator will generate:
Monthly Payment: What you will pay each month for principal and interest.
Total Payment: This is the total cost of the loan for its full length.
Structure of Amortization: how much the payment is contributing to Principal and Interest.
Keen About Your Decision-Making: Figure out what you can afford ahead of meeting a lender.
Customized Scenarios: Play around with the money you need to borrow, rates of interest, and how long you want to take to pay off the loan.
Transparency: an overview of how interest and payments work.
Be realistic: Try to use figures for income, expenses and down payment that are realistic.
Include the Extras: Make sure to account for property taxes, homeowner’s insurance and HOA fees.
Experiment With Other Scenarios: Change the loan term or down payment to find Goldilock options.
At AML Mortgage, we provide assistance through every step of the mortgage process. This calculator is not the only tool we have to help homebuyers. Whether you are a first-time buyer or refinancing your existing mortgage, we guarantee expert advice and competitive rates.
So try our mortgage calculator today and see where you have been with respect to your dream home. There has never been a time when understanding your finances is easier than it currently is! Get in touch with our team at AML Mortgage for a personalized experience and to discuss the required loan.
Get the tools and help you need to buy a home with AML Mortgage—making your goals our priority.
