The current housing market is very favorable for trade-up home buyers. Use this calculator to explore different financing scenarios, which begin with the sale of your current home. Please call or e-mail me for an estimate of your current home's value.(contact information appears below).
Note: This calculator calculates mortgage payments only. Points, taxes, property insurance and, if required, mortgage insurance, are not included. Also, as with all matters involving home financing, you should contact a mortgage professional.
Based upon your input, The Trade-Up Calculator will display 4 different financial scenarios:
(1)
This assumes that all of the proceeds from the sale of your current home are rolled over to become the down payment on your tradeup house.
(2)
This assumes that you make a 20% down payment on your trade-up home.
(3)
This allows you to select the percent of down payment you wish to make on your trade-up house. Note: If your downpayment falls below 20% of the purchase price your lender will likely require that you carry private mortgage insurance.
(4)
This allows you to select the dollar amount of down payment you wish to make on your trade-up house. Note: If your downpayment falls below 20% of the purchase price your lender will likely require that you carry private mortgage insurance.
Enter your information in the yellow cells. Use the Tab key to move from yellow cell to cell.
The information provided here should be used as a guide, only. While every effort has been made to ensure the accuracy of this information, you should seek the advice of a mortgage professional before making any home-financing decision.
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