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Financial Calculators From Dinkytown.net Java Financial Calculators, Copyright 2001 KJE Computer Solutions. For more information please see http//www.dinkytown.net. http://www.jacksonteamre.com/java_calculators/MortgageRentvsBuy.html
Extractions: Definitions Price of home: Purchase price of the home you wish to buy. Cash on hand: Cash you have for the down payment and closing costs. Interest rate: The current interest rate you can receive on your mortgage. Term in years: The number of years over which you will repay this loan. Property tax rate: Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes. Home insurance rate: Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance. Loan origination rate: The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000. Points paid: The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance. Other closing costs: Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other misc. fees paid.
