Mortgage Calculator From Mortgage West – The Mortgage Centre

Finding the mortgage that’s right for you is all about careful financial planning. This is true for first time buyers who may be just starting down the path to long-term financial budgeting, as well as seasoned home buyers who may have different needs this time around than when they applied for their first mortgage.

Trying to keep track of your payment schedule, interest rates, and insurance premiums can get confusing. That’s why Mortgage West – The Mortgage Centre offers these free and easy-to-use home buying calculators to help you manage all the different expenses that are involved in the purchase of a home. Use these different online tools to keep track of your budgeting, monthly payments, and home insurance costs. Here is some more information about the various costs you should expect when purchasing a home.

Housing Budget

Before you start shopping for a new home, it’s important to create a housing budget and stick to it. This will help to narrow and focus your search, and also prevent you from committing to a property that is significantly outside of your price range.

Buying a home doesn’t just mean purchasing the value of the property. It also includes maintenance and administrative fees such as heating, property taxes, and other organizational costs such as condo fees. You should also take into consideration any debt repayments you have to make when budgeting for a new home. Once you’ve signed on to a mortgage, being aware of your mortgage rate and amortization period is the best way to stay on top of your financial obligations.

Payment Schedule

It’s important to stay on top of your mortgage payments. Falling behind on your mortgage payments jeopardize your ownership of your property and make it more difficult for you to be approved for loans in the future. Accumulating interest payments can also send your finances into chaos. The most important things to consider when organizing your payment schedule are your mortgage rate and payment frequency. If you ensure that you make the necessary payments in a timely manner, you can avoid any stressful financial situations.

Mortgage Insurance

The other aspect of your mortgage to be aware of is your mortgage insurance. Mortgage insurance is a policy that protects lenders in case of a defaulted loan. Your mortgage insurance premium will depend on several factors, including type of insurance plan chosen, the purchase price of your home, and the down payment you made on the property.

Financial Organization Made Easy

With the expert mortgage advice and support from Rose Blankenagel at Mortgage West – The Mortgage Centre, you can easily organize and manage your finances to keep your mortgage under control. Try our easy and free online home buying calculators today to find out up-to-date information about your projected home buying budget, payment schedule, and insurance premiums. With these simple and comprehensive online tools, managing your mortgage has never been faster, easier or more efficient. For premier mortgage advice and support you can trust, as well as assistance securing the lowest rates anywhere in Alberta and British Columbia, contact Rose Blankenagel today at Mortgage West – The Mortgage Centre.