There are many options to consider when looking for the right mortgage. When using the mortgage calculator, it is important to remember that this is an estimate. To go along with the estimate, you should do some research (or let us guide you) to find all the options available to you and to give yourself a clear idea of the various payment structures. Here are some basic questions you should ask yourself when financing a home or property.

• Do I want a fixed rate mortgage or an adjustable rate mortgage?
• How long of a term for the mortgage do I want?
• Do I want an interest-only option?
• Which rate / point combination do I want?
• How large a down payment should I make?

In addition to those questions, there are other options to consider such as escrows, prepayment penalties, how long of a lock period do you need, when should you lock in, what documentation requirements should you ask for? The list goes on and on and can be daunting for some. All of our REALTORS® are at your disposal to get the details and professional help that you will need to make your home mortgage experience successful.