How Accurate Are Online Mortgage Calculators?

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Filed under: Home Buying Tips

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Go to nearly any mortgage website and you’re sure to see a mortgage calculator where you can plug in your loan amount, an interest rate, and a number of years and it tells you your payment.

Unfortunately, there’s more to this story…

There are a number of factors such as HOA dues, property taxes, and home owners insurance where the online calculators will typically not be very accurate.  This could lead you to a big surprise when you find out what your REAL monthly payment will be.

Take a quick look at the video below for more information and give me a call if you have any questions!

 

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