Mortgage Calculator

A Mortgage Calculator is a quick, easy way and painless way of seeing whether you can actually afford that dream home you've got your eye on

There are hundreds of online mortgage calculators available to help you get a realistic picture of what your monthly outgoings will be before you actually buy a home

Even if your mortgage is the same as your rent, you can end up with huge bills for heating, oil, water, insurance and other every day incidentals that you may not have thought of

Even with your best insurance policies in place, there are always certain items that will not necessarily be covered by your insurance policy

Your mortgage calculator will probably give you a different figure from you mortage lender, as the lender will base your ability to pay on how much they think you can afford, not often taking into account your spending habits

Take an independent inventory of your financial situation before you approach your mortgage broker, then compare your list to what is offered by your mortgage lender

If possible putting a larger down payment and then make smaller monthly payments could be better avenue for you to take to reduce those monthly payments

Be realistic with yourself, using a mortgage calculator go through the numbers and use your best judgement based on the facts and not your emotions...