A Mortgage Calculator is a great way to estimate an approximate monthly payment. When using a Mortgage Calculator, make sure you understand, in addition to the Principle and Interest payment, there should also be taxes, insurance and possibly Private Mortgage Insurance added as well. The Private Mortgage Insurance is determined by the loan program, the credit score, the amount of your down payment and several other factors. If the Mortgage Calculator doesn’t include options to add the taxes, insurance and Private Mortgage Insurance, talk to a Loan Officer to get an estimate of these costs. Keep in mind, the Mortgage Calculator is only as good as the information that is inputted. Talk with a Loan Officer to get more accurate numbers. Call today at 803 261 9267 for more accurate numbers!
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