How Much House Can You Afford?
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Buying A Luxury Home: Get Pre-Approved
When buying a luxury home, it's always a good idea to start the mortgage process as soon as possible. With good credit and strong finances, many luxury home buyers skip this important first step, however it's often even more important for luxury buyers to get pre-approval early on.
Finances in the area of luxury real estate are often more complex, and the process of obtaining a loan can often take more time. Since the purchase of a luxury home is such a large financial transaction, lenders and home sellers scrutinize potential buyers much more carefully. Buyers who are able to prove that they have the ability for such a large purchase with a pre-approval letter are typically looked upon more favorably by home sellers. Not only does it demonstrate that the buyer is ready and willing to purchase, it also gives luxury home sellers a sense of security when allowing visitors in to view their home.
Give yourself the advantage when purchasing a luxury home and get pre-approved before beginning your home search. Start with our Mortgage Calculator to find out how much you can afford.
Contact us online or call 954-870-4080 today for more information about financing your next Fort Lauderdale luxury home purchase.