Austin Texas Real Estate - Mortgage Calculators
For your convenience, we have provided access to numerous Mortgage Calculators. Some of these are NOT intended for beginners. Do not be intimidated if none of these calculators make sense to you!
When using these calculators:
1. If you don't know what to put in a particular entry blank, leave whatever default entry is already in there.
2. The approximate property tax rate in Austin is about 2.15%. To approximately determine annual taxes on a home, you can multiply the price of the home by 2.15% (.0215). REMEMBER - Your property taxes can be written off on your income taxes, so don't let your total property tax amount scare you!
Mortgage Affordability Calculator
This calculator helps you determine a rough estimate of how expensive a home you can afford. In addition, there is a hyperlink that will help you understand a few of the more common loan options.
Mortgage Income Calculator
This calculator helps you determine what your annual salary needs to be, assuming good credit, to be able to afford certain home prices.
Upfront Cost Calculator
This calculator helps you determine the upfront costs of your loan, based on the interest rate and Annual Percentage Rate (APR) that your lender quotes to you.
Mortgage Pre-Qualification Calculator
This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.
Mortgage Payment Calculator & Amortization Table
This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.
Advance Payment Calculator
This calculator will help you calculate how quickly you can pay your loan balance off, if you decide to make advance yearly or monthly payments.
**Please Note: These calculators are only provided to give you a rough estimate of certain calculations. They are not intended to be used as substitutes for actual quotes given to you by licensed lending companies.