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Mortgage Calculator Tool and Tips
Easy to use online Mortgage Calculator tool - Calculate how long it will take to pay off your mortgage and what your monthly repayments will be as well as interest charged per month per each year. Plus lots of helpful tips and hints. |
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(c) 2006 Moneyforums.co.uk / Market Oracle Ltd
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Mortgage Tips and Hints.
- Borrow within your means - Ask yourself what would the total monthly payments on debts & mortgage be ? If its likely to exceed 30% of your total net monthly income, then its going on the high side, so try to aim at keeping your debt repayment burden no higher than 30% of total inome. If your potential mortgage would take this debt burden beyond 40%, then your basically asking for trouble !
- Improve your credit rating - Important in securing a good mortgage deal is to improve on your credit score before you attempt to arrange your mortgage. See the credit score calculator for lots of helpful hints and tips on improving your credit score. Remember mortgage companies look for a good stable credit history in potential applicants, so start building that history today !
- Budgeting - Get your finances in order, know how much you spend, look to see where you can make potential savings, and get used to living to a budget.
- Costs of Buying a House- Remember that there are lots of extra costs involved with moving house, these can include buying curtains, carpets, furniture, fixtures and fittings, decorations, minor (and major) repairs as well as removal costs and insurance. Ensure that you allow for these and other costs before arranging your mortgage.
Many more helpful tips and advice on the mortgage discussion forum |
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all information provided within the Website is for general
information purposes only. We recommend that independent professional
advice is obtained before you purchase any product and/or
service. All tools and calculators are made available for information purposes to be used as is without any guarantee toward accuracy. |
© 2004-2007 Moneyforums.co.uk / Market Oracle Ltd asserts copyright on all content including topics & posts. Moneyforums are open forums, and thus posts are NOT endorsed by Moneyforums.co.uk / Market Oracle Ltd
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