Home Buyer’s Software Updated

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6/2/2007, 7:09 pm

Real Estate Calculator Suite, an integrated collection of real estate and financial calculators designed to help home buyers, has been updated to version 4.6.

For home buyers concerned about the temptation to buy more house than they can easily afford, the Mortgage Qualifier in Real Estate Calculator Suite can help a home buyer determine what an acceptable monthly payment for a fixed rate mortgage may be based upon their income and current debt load.

While a mortgage broker or lender may approve a home buyer for a loan amount that is obviously beyond a home buyer’s ability to repay, there are industry-standard ratios which have been used for decades to ensure a home buyer doesn’t borrow more than can be repaid.

The Mortgage Qualifier in Real Estate Calculator Suite uses the industry-standard debt and housing ratios that really make sense for a home buyer and help them determine an affordable payment amount and purchase price.

And while the dangers of adjustable rate mortgages and interest only loans have recently been outed in the main stream media, Real Estate Calculator Suite has always offered calculators only for the safer fixed rate mortgages that have long been the foundation of sound home buying finances.

What is so special about fixed rate mortgage? A fixed rate mortgage is exactly what its name implies. The interest rate is fixed and does not change during the term of the loan. With a fixed rate mortgage you know what your monthly payment of principal and interest will be from the first payment to the last.

Learn more about the Mortgage Qualifier in Real Estate Calculator Suite.

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