Your Questions About Home Loan Calculator

Lizzie asks…

Does any one have the best Financial Calculators in australia for home loan on line?

John answers:

Here ya’ go…

Http://www.dinkytown.net/au.html

Thomas asks…

What would payments be on a 200k home USDA loan washington?

Can anyone direct me to any articles, calculators or tell me how much monthly payments would be on a 200k home with a usda rural housing loan.

John answers:

The rate now is around 4.5%. The factor to use is $5.10 for each $1,000 borrowed.

So the loan payment would be 5.10 x 200 = $1,020. Plus 1/12 of the taxes and 1/12 of the insurance

Michael asks…

I do qualify for a VA home loan, is it possible to get approved for a higher loan amount?

I have done those “mortgage calculators” , most of them say I can afford between 140,000 and 165,000…however the house Im looking at is 180,000. I was just wondering if it could be possible since it is a guaranteed loan to be approved for more….thanks!

John answers:

If you are approved through an automated underwriting system on a VA loan, the ratios are waived.

You need to get with a lender who can run the application for you at the higher price.

If you would like, you can contact me through the e-mail link in my profile. I would be happy to help if you would like.

Good luck.

Jenny asks…

If I have a non occupant co-signer for an FHA loan, will I be approved for a higher amount?

I am trying to buy my first home with my boyfriend of 6 years. His credit rating isn’t very good, so I want to purchase the home myself. Using a loan calculator, I figured out that on my own I won’t be approved for a reasonable amount. If I have a co-signer, will the amount of the loan increase? How much will it increase?

John answers:

If your mortgage allows for a co-borrower, how much the loan amount will increase will depend on the strength of your co-borrowers credit score and resources.

Richard asks…

Break even calculator for a home sale?

I need to find a calculator that will allow me to punch in what I owe on my loan, real estate commissions, closing costs, etc to calculate what my break even cost is while selling my home. The only numbers I have are my payoff quote from the mortgage company, and I know I will pay 5% to Realtor commissions. I need a calculator that you punch in everything you know and gives you an estimated break even.

John answers:

Here is one that you have to enter all the numbers manually:
http://www.chicagotitle.com/DesktopDefault.aspx?tabid=387

I have one I’ve paid for through http://www.chicagoagent.net. I’m think you can download it for a trial period though if you want to try that. It’s an excellent program.

I’ll be happy to figure it for you if you want to send me the numbers you need to have plugged in. I’m in Texas though so it might not be accurate if you live somewhere else.

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