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    100 Questions and Answers To Your Mortgage/ Real Estate Questions

    Full Mortgage/ Real Estate Glossary

    Mortgage Borrowers Rights

    Selling Your Home

    Interview Potential Broker
    Tips

    • You often get a better value buying a used home, because rising construction costs and psychological factors make new houses more expensive.

    • A used home often is located in an established neighborhood and has found its true value in the marketplace. With new construction, particularly in a new subdivision, you never have a solid feel for a house's value.

    • To buy a house as an investment, look for one that is selling for below the fair market value, because of speical circumstances such as divorce, a relocation or a foreclosure.

    • Buying a used house means taking on an added risk of breakdowns and repair costs. Just make sure the purchase is contingent on an inspection, and don't buy a house with major structural problems.

    • When you buy a used house, it's important to put at least $50 a month into a repair fund. You never know what can break.

    • If you buy wisely, you can get a good home in an attractive neighborhood and not be overrun by the myriad problems of a booming new area. With a new house, there's a danger of crowded schools, poor drainage, and an abundance of new construction that can make it hard for you to resell your house.

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    Bi-Weekly Mortgage Calculator
 
    This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year--without hardly noticing the additional cash outflow. But, as your about to discover, you will certainly notice the increased cash flow that will occur when you pay your mortgage off way ahead of schedule!
Enter the principal balance of your mortgage
(call your mortgage lender and ask for the current payoff amount):
Enter the amount of your monthly mortgage payment:
(principal and interest portion only):
Enter the your mortgage's current interest rate:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay if you switch to a bi-weekly mortgage payment plan:
Bi-weekly Mortgage Interest Savings:
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