Mortgage Pre-Approval Calculator: How Much Can You Afford? - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Tuesday, May 14, 2013

Mortgage Pre-Approval Calculator: How Much Can You Afford?

Are you thinking about buying a new home but you do not know where to begin. A crucial first step is to know how much home you can afford. Try this new Mortgage Pre-Approval Calculator from United Home Loans to get a head start.

Unlike many pre-approval calculators on the web, this one approves you at an exact loan amount. Many require you to plug in a home price, interest rate, tax amount, etc. If you are like most first time buyers, you probably do not know what price to start with, what the taxes may be or what interest rate may be.

By completing a few fields such as expected credit rating, income and debts, this calculator will give you a great starting point – a pre-approved loan amount. Just add the estimated amount of your down payment funds to this loan amount and you have an idea of what sales price range you should be looking in.

This pre-approval calculator also gives you the option of determining if you will be pre-approved assuming you know the sales price, down payment and taxes. Of course, if you want to handle this the old fashioned way, please call our office and one of our mortgage bankers will be happy to help.

United Home Loans provides free mortgage pre-approvals in Illinois, Indiana, Michigan, Minnesota and Wisconsin. We lend across all price points – from your first starter home to that dream lake property you have been planning for years. Please call or e-mail with any questions you may have at (708) 531-8388

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