The Sumbles Team
Keller Williams
1514 Market Dr. #B100
Little Rock, AR 72211
501-960-4111
Fax: 501-907-5958
rsumbles@kw.com
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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU.
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Randy Sumbles
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The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... What Is Your APR?
Use this calculator to determine the Annual Percentage Rate (APR) for your mortgage. Press the report button for a full amortization schedule, either by year or by month.
Definitions
- Annual Percentage Rate (APR)
- A standard calculation used by lenders. It is designed to help borrowers compare different loan options. For example, a loan with a lower stated interest rate may be a bad value if its fees are too high. Likewise, a loan with a higher stated rate with very low fees could be an exceptional value. APR calculations incorporate these fees into a single rate. You can then compare loans with different fees, rates or different terms.
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
- Monthly payment
- Monthly principal and interest payment (PI).
- Total payments
- Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
- Loan origination percent
- The percent of your loan charged as a loan origination fee. For example, a 1% fee on a $120,000 loan would cost $1,200.
- Discount points
- Total number of "points" purchased to reduce your mortgage's interest rate. Each "point" costs 1% of your loan amount.
- Other fees
- Any other fees that should be included in the APR calculation. These fees can vary by lender, but at a minimum usually includes prepaid interest.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Time to Move >Empty Nests
When their last child is married or graduates from college, many couples feel the urge to give up yard work, sell their homes, and become sophisticated city dwellers. They may consider a condominium or a home near theaters, restaurants, museums and other in-town excitement.
Although city living has many rewards, this type of move represents a major change in lifestyle. You will be relieved of a lot of maintenance chores, and you will be close to many activities that not available in the suburbs. However, some things that you take for granted, like a parking place, may not be readily available in a city!
Before you make a commitment to a condominium, talk to the people who live there. Like suburban developments, town house and condo developments often have covenants and owners' association restrictions which limit what you can do with your home. A professional real estate agent can get you the answers to any questions you may have about this important move.
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| Q |
Lenders in 14 states--California, New York, Oregon, Utah, Vermont and Wisconsin and 9 others--have what in common?
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| A |
Lender in these states must pay interest on funds held in escrow accounts. |
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