There are a few different factors that contribute to your mortgage amount. You must consider all of these factors when calculating your costs. Remember, you are not only paying for the funds that you are borrowing, but you are also paying for the service of borrowing the money. Your loan amount, repayment term and interest rate are the three greatest factors in determining your total mortgage amount. The value of your new home is taken into consideration as well. By knowing these amounts, you can begin to calculate your costs and ensure that it is a viable price range for you. It is beneficial to utilize a mortgage calculator to properly estimate your costs. For any other questions, or to receive othermortgage tips and tools, contact your local agent today.

There are factors that contribute to your mortgage amount. Utilizing a mortgage calculator can help you estimate your costs. For assistance, call 1-800-735-2100.