Finance Tools...
Welcome to the Financial Center. For answers to some of the most frequently asked financial questions, click below for some helpful tools and calculators. These calculators provide estimates only.  You should talk with a mortgage officer to discuss your needs in more detail, or you can contact me and I will be happy to help.

• How much can I borrow?
• How much will my payments be?
• What house can I afford?
• What will my closing costs be?
• What will my tax savings be?
• How much should I put down?
• Am I better off renting?
• Am I better off refinancing?
• Should I remodel or move?
• Should I consolidate my debts?
• How can I pay off my line of credit?
• What is the difference between pre-approved and pre-qualified?

All of the links in the list above open an independent website in a new window.
Long & Foster is not endorsing or guaranteeing the products, information, or recommendations provided by linked sites and is not liable for any failure of products or services advertised on those sites. In addition, each linked site may have a privacy policy different from our own and provide less security than ours. To view our privacy policy, please click here Privacy Policy

Federal Resources...

You can save yourself a lot of wheel-spinning if you take a minute to figure out how much mortgage you can afford. Generally, a lender will want you monthly debt ratio to total no more than 36-41% of your monthly gross income (that's your monthly income before taxes and other paycheck deductions are taken out). You also need to consider current loan interest rates. The lower the interest rate, the more expensive the home you'll be able to afford. Visit the U.S. Department of Housing and Urban Development to learn more about protecting your rights!

Ginnie Mae's goal is to help you better understand the home buying process. Here you can calculate how much you can afford to spend on a home, calculate whether you should rent or buy, and you can get an estimate of FHA, VA and Conventional loan amounts, monthly payments, down payment, and closing costs for a home of a particular sale price. Find out why government guaranteed loans are a sure bet.

Fannie Mae provides several calculators to help you evaluate the components that factor into buying a home and getting a mortgage.
 

Freddie Mac makes housing more accessible and affordable for millions of families across America. This site contains information on the differences in types of loans and other calculators.

 

Check your credit report at AnnualCreditReport.com