Now that you’re receiving custom-tailored listings through Shaun Nilsson’s My Perfect Home advanced MLS search tool (No? Click here to read more), you may want to financially evaluate certain properties before going to view them. With the help of our good friends at CalcXML, ShaunNilsson.com is pleased to provide you with many of the tools you’ll need to make an informed, in-depth decision about which property is truly right for you!
Comprehensive Mortgage Calculator
The loan amount, the interest rate, and the term of the mortgage can have a dramatic effect on the total amount you will eventually pay for your property. Also, mortgage payments may include monthly allocations of property taxes, insurance, and (if applicable) mortgage insurance such as those provided by CMHC or Genworth. See the impact of these variables along with an amortizaton schedule here.
How Much Home Can I Afford? Tool
When you’re buying a home, mortgage lenders don’t look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use this calculator to determine how much of a mortgage you may be able to obtain.
Rent vs Buy Tool
With interest rates near forty year lows, the decision to rent versus buy becomes difficult. Use this calculator to help determine which makes the most sense for you.
Bi-weekly Payment Comparison Tool
It may surprise you that banks and mortgage companies collect two to three dollars for every dollar that you borrow! However, there is a way to accelerate mortgage payoff – by using Bi-Weekly, instead of Monthly mortgage payments. This program is implemented by dividing your monthly mortgage payment in half and paying it every other week – resulting in a net effect of paying an extra payment toward principal each year!
Mortgage Term Comparison Tool
Different mortgage terms and rates can make the loan selection process confusing, especially if you don’t plan on keeping the loan for the full term. Use this calculator to determine the total cost in today’s dollars of various mortgage alternatives, taking into account your ‘opportunity cost of money’.
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