Read about my successes and failures. Learn from my experiences and gain insight without losing any cash!!!
Lesson: Catching a Falling Knife
Lesson: Currency Exchange
Lesson: Mutual Fund
Lesson: Paid to Wait
Lesson: Pricing in a Downturn
This is where you’ll find find my Blog. I will comment on the latest news relating to investing, real estate, and the financial markets.
You can use this mortgage calculator to estimate your mortgage payments, whether you want to pay monthly, semi-monthly, or bi-weekly. Also, this mortgage calculator will tell you the estimated amount of interest you will pay over the life of your mortgage. This can be useful when deciding the length of amortization for your mortgage, and when comparing the interest rates for different lenders.
Also, this mortgage calculator will let you compare the advantages and disadvantages of monthly, semi-monthly, and bi-weekly mortgage payments.
You will need to input the interest rate and the term or amortization period of the mortgage (number of years of the mortgage loan) in order for the mortgage calculator to calculate your monthly payment.
This mortgage calculator also allows you to add your annual property tax, and divides in automatically into your payment plan. We do this because many banks will allow you to pay your property taxes automatically through your mortgage, and they pay the city on your behalf. If your bank does not do this, or you wish to pay your taxes without the bank, then put a “0” in the “annual tax” field. But, remember to consider the extra costs, when deciding whether you can afford a particular home. You should add the amount of taxes that you expect to pay per month, on top of the value that you get from the mortgage calculator in order to get a more accurate estimation of your monthly expenses. This will vary from city to city, and is a very important question to ask when purchasing a property, because it can have a great impact on your monthly expenses.
The mortgage calculator has fields that show you the amount of interest and principal you would expect to pay with each payment made to the bank. Notice how the mortgage calculator shows the impact on your monthly payment, and total interest paid, when you change the amortization period. If you can afford a higher payment over a shorter amortization period, the mortgage calculator will show you the reduced amount of interest you would pay over the life of the mortgage. The great part about the mortgage calculator tool, is that you can return here after every payment, and take the principle remaining on the mortgage, and the payment will reflect that you are making progress at reducing your debt, and that you are on your way to owning your own property outright!