Download TripleCalc for FREE. It's My Gift to You. You can compare three loans at one time with TripleCalc software. The software installs easily on your Windows PC. You don't have to be online to use TripleCalc, like the other calculators on my site. You can leisurely compare three loans from three different lenders, and try different scenarios to see which loan is best for you. TripleCalc would cost you about $30 elsewhere, but you can have it for FREE. It's my gift to you for visiting my Clifton, Lyndhurst and Belleville web site. You can send copies of TripleCalc to all your friends and associates. Click on the Download link below to get TripleCalc. It's a small file (about 225k) so it will download quickly. Save it on your hard drive, and then double-click on it. You'll see that it installs in a snap...  Download
TripleCalc Now!
This is what TripleCalc
will look like on your Windows PC. You can compare 3 loans,
at one time -- and you don't have to be online. TripleCalc
lets you get a leg up on complicated loan comparisons. |
Includes 8 other calculations
you can't do without:
- Simple Mortgages with P.I.T.I.
- Pre-qualifying mortgages
- Plus lease, investment, balloon payment and
other calculators.
- Every calculator uses the super-convenient
"compare three at once" format.
- It's FREE.
Download
TripleCalc Now!
Download
TripleCalc Now! |
Financing Your Home >Your Financial Cushion
When you calculate how much you will need to purchase a home you will add up the down payment and closing costs. It is also a good idea to leave yourself with some financial cushion to cover the incidental expenses associated with moving.
First, you will have to pay the moving company unless you can find friends with strong backs who will help you. Then many buyers plan to do some work, such as painting, replacing carpet, or refinishing floors. If you are moving into a larger space, you may find yourself making some major furniture purchases within a few months of closing.
A financial cushion is important enough that some lenders require buyers to have an amount in the bank equivalent to two or three months mortgage payments. This is especially true for buyers who are putting less than ten percent down. Your real estate agent can give you guidance. A lot depends on your overall financial situation. If your mortgage is a relatively low percentage of your monthly income, you will be able to rebuild a comfortable amount of savings in a few months.
|
| Q |
What is a "jumbo mortgage"?
|
| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
| See More Real Estate Trivia > |
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NUMBER1EXPERT™
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All rights reserved. All information deemed reliable but not guaranteed. |
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