| Use this calculator below to estimate your total monthly housing payment. |
| Mortgage Amount: |
Enter your loan amount. |
| Term: |
Enter a loan term. Most folks use a 15 or 30 year term for repayment of
their loan. |
| Interest Rate: |
Enter your anticipated interest rate. Shown above is a current rate table;
also, we have given you the names of 3 mortgage lenders in Austin, whom
you may call for a quote. |
| Annual Property Taxes: |
Tax rates vary in Austin between about 2.3% - 3.3%, depending on your
area. The MLS data shows the actual annual taxes for each property. |
| Home Insurance: |
Enter your anticipated annual homeowner's insurance premium. |
| The calculator will show you your PI (principal and interest), as well as your PITI (principal, interest,
taxes and insurance). It also shows an amortization schedule and allows you to look at the effect of
making prepayments to your loan. |
| For a more in depth look at the loan process review this section of my site: Obtaining Loan Approval |
