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Loan Calculator
Loan amount ($):
Interest rate (%):
Term (years):
Additional monthly payment ($):
Monthly payment ($):
Total interest ($):
Average monthly interest ($):
Number of years:

**The above payment is Principal and Interest only.

Typically you will also have monthly real estate taxes           
and homeowners insurance added to your P & I                   
payment. Private Mortgage Insurance (PMI) is also              
included in this payment unless you make a 20 percent       
down payment.

EXAMPLE:  Based on 150,000 @ 5.5% with 3.5% down pymt)

      840.36    Principal & Interest
      191.67    Property  taxes (2200 yr)
        75.00    Homeowners Ins. (900 yr)
         66.34    Mortgage Ins. (PMI) *

   1173.38   Estimated monthly  payment


*PMI is based on how much your down payment is, your credit             
score and the loan program you qualify for.       
Are you wondering:

How much you qualify for?
What will your monthly payment will be?
How much the down payment and closings costs
are?
What are the different types of loans and which
one is best for you?
What is the interest rate?

These are some of the questions your mortgage lender will help you with. Getting pre-approved is free and it's a
neccesary step before beginning your home search.
Most sellers today require a pre-approval letter from
your lender before they will accept an offer on their
property.

Choosing a lender and filling out a short loan application
is all it takes to get the process started. Typically you will
have an answer within a day or two.

You are free to choose any mortgage lender. If you have
no preference, please select your choice below.

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Sherry Burnett
4200 Maple Ave, Odessa Tx 79762
Direct: (432) 661-7648,  Office: (432) 272-4951
Fax: (432) 272-4962
Email:  sherry@sherryburnettodessa.com