Calculators Four questions
See the numbers first.
Four calculators, one for each question people bring to a first call. Start with the one you're asking, then we'll make it exact against real lender rules.
02 Before you trust a number
- An estimate isn't an approval
- Any calculator works from the numbers you type in. A lender works from your documents, your credit and the property. The two can differ, sometimes by a lot.
- You qualify at a higher rate
- Lenders apply a stress test — you have to qualify at the higher of your contract rate plus two points, or 5.25%. That's usually what moves the number most.
- The payment isn't the cost
- Property tax, condo fees, insurance, heat and closing costs all sit outside the mortgage payment. We'll put real figures against them together.