The McDonald Team

Your Connection to Central Coast Real Estate

(805) 441-5018  Contact Us   (805) 234-5828
 

Mortgage Calculator

How much can I afford to borrow?
  1. Fill out all the fields in the loan calculator, except the $ Borrowed
  2. Click the "Compute" button
What will my payments be if I borrow a certain amount?
  1. Fill out all the fields in the loan calculator, except the $ Payment
  2. Click the "Compute" button
Loan Calculator
# Years*
Interest* %
$ Borrowed
$ Payment
Leave out the $ Borrowed or the
$ Payment and we will calculate it.

 Where to Get a Mortgage?

What interest rates should I use?

 

If you are pre-qualified at a bank, you should use the rate you were quoted in the loan calculator. You could also go to the websites of various banks and see what they are lending at.

 

Interest rates vary a lot, depending on your credit rating, whether you will live on the property you are financing, and the rate your selected bank is willing to loan at. In general, fixed rates tend to be roughly a percentage or two above the prime rate for a 30 year Treasury Bill, if you have excellent credit. Floating rates will adjust regularly (often annually) according to changes in the shorter Treasurey Bill rates. Always check with your banker for exact rates.

 

The following site posts the current 30 year Treasury Bill rates, and their forcasted values. http://www.forecasts.org/30yrT.htm

Prudential Hunter Realty logo

©2006 An independantly owned and operated member of Prudential Real Estate affiliates, Inc. Prudential is a service mark of the Prudential Insurance Company of America. Equal Housing Opportunity

   Helpful Links