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Whether you're looking to purchase your very first home or your dream home, getting the best mortgage rate possible is one of the most important factors when it comes to choosing a lender and buying a home. Our LendingTree mortgage calculator app will help you calculate home costs and will give you instant, live quotes so you can comparison shop different lenders. Then, you simply decide which lender(s) to contact and move forward with the home-buying process! Our Calculators Home Affordability: Use our home affordability calculator to determine how much house you can afford based on your income, down payment amount, monthly debts and credit score. We'll show you how much house you can afford, in addition to your estimated monthly payment. Mortgage Calculator: We break down your monthly payment even further by showing you how much you'll owe each month in principal and interest, property taxes, homeowner's insurance, and private mortgage insurance (PMI). Simply enter in your home's price, your down payment amount and your credit score. Rent vs. Buy Calculator: Let our rent vs. buy calculator determine whether or not it's in your best interest to purchase a home or continue renting. Plug in your monthly rent, the purchase price of the home you're interested in buying, your down payment amount, and how long you'll live in the home to see if you should continue renting or buy. Our calculators will quickly present the information you need in addition to providing multiple mortgage offers to you in a matter of seconds. Buying a home doesn't have to stressful, and at LendingTree, we happily do the mortgage comparison shopping for you so you can focus on finding the home of your dreams. Mortgage Tips for Homebuyers Get your credit in order. Those with excellent credit will receive better interest rates than those with poor credit. You can improve your credit by paying all of your bills on time, minimizing debt, keeping balances low on credit cards, and disputing any errors you may come across on your credit report. Try to put down 20 percent. This isn't a deal breaker, as there are loans that require as little as 3.5 percent down (FHA loans), but if you are able to put down a 20 percent down payment on your home, you'll avoid paying private mortgage insurance, or PMI. Save up for closing costs. Closing costs are typically two to four percent of the purchase price of the home. While some loan servicers may let you roll these costs into your mortgage, it's best to pay cash as you'll avoid paying interest. These fees will be disclosed in the Good Faith Estimate (GFE) from your loan provider. Comparison shop different lenders. Your real estate agent, friends, coworkers and neighbors all may make recommendations on lenders. Feel free to call everyone, as rates and closing costs can vary significantly. And, don't forget to comparison shop lenders online at LendingTree. By comparison shopping with LendingTree, you can potentially save thousands of dollars over the life of your loan, and you'll get quotes within seconds. You've got nothing to lose; when banks compete, you win!
Requires iOS 9.0 or later. Compatible with iPhone, iPad, and iPod touch.