Montclair, Upper Montclair, Glen Ridge and West Orange real estate, luxury properties and unique homes for sale in New Jersey - Roberta Baldwin, REALTOR® Roberta Baldwin REALTOR(r) for real estate, luxury properties and unique homes, in Montclair, Upper Montclair, Glen Ridge and West Orange New Jersey real estate - NUMBER1EXPERT™ Roberta Baldwin NUMBER1EXPERT(tm) for real estate, luxury properties and unique homes, in Montclair, Upper Montclair, Glen Ridge and West Orange New Jersey real estate
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Mortgage Calculators: Montclair, Upper Montclair, Glen Ridge and West Orange New Jersey home buying, real estate listings, and homes for sale in Essex                          County, NJ
Welcome > Resources > Mortgage Calculators > How Much Can You Afford? ...


The Best Mortgage Calculators On the Web!
 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
 

How Much Can You Afford?

The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the "View Report" button to see a complete amortization schedule of your mortgage payments.

This Financial Calculator requires a Browser with Java Support


Definitions

Annual income
Your annual income before taxes. For married couples this is your total combined annual income before taxes.

Purchase price
The price of the home you wish to purchase. This is the actual price you'll pay, not including any closing costs.

Total monthly payment
Total monthly payment that you can qualify for. This is the total of principal, interest, taxes and insurance paid each month. Often called PITI.

Cash on hand
Cash you have for the down payment and all closing costs.

Interest rate
The current annual interest rate you can receive on your mortgage.

Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

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.

Monthly car payment(s)
Total monthly payment for your car loan(s).

Credit card payments
Total monthly minimum payments for your credit cards.

Other loan payments
Any other installment loan payments, such as student loans or unsecured loans.

Total closing costs
Total upfront costs to close your loan. This is the total of your loan origination fee, points paid and other closing costs.

Loan origination rate
The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.

Number of 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 miscellaneous fees paid.

Monthly PMI payment
Monthly cost of Principal Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year. Monthly PMI is calculated by multiplying your starting loan balance by this percent and dividing by 12. When the equity in your home exceeds the percentage required for PMI, your PMI payment drops to zero. Please note that this is only an estimate of your actual PMI. The amount you may be required to pay may be higher or lower than our estimate.

Monthly PI payment
Monthly principal and interest payment.

Total for down payment
Total funds remaining, after closing costs, for down payment.

Limit down payment
Limit your down payment to percentage required to eliminate the need for PMI payments. Even if you have more cash on hand than required for closing costs checking this box will limit your down payment to the minimum amount required to forego PMI.

Show schedule by month
Display the payment schedule by month when you press the "View Report" button.

Show schedule by year
Display the payment schedule by year when you press the "View Report" button.

Total annual income debt percentage
Not shown. This is the percentage of your annual income your financial institution allows you to use for debt installment payments. This includes car payments, credit card payments, other loan payments and your "Principal, Interest, Tax and Insurance" payment for your home. The default rate is 36%.

PITI annual income percentage
Not shown. This is the percentage of your annual income your financial institution allows you to use for your "Principal, Interest, Tax and Insurance" payment for your home. The default rate is 28%.

Qualify amount
Shown as "Total monthly payment." This is the total amount you qualify for per month. This amount is the total of "Principal, Interest, Tax and Insurance" for your home.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.




Roberta Baldwin, REALTOR®, real estate agent and broker for Montclair, Upper Montclair, Glen Ridge and West Orange New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Roberta Plutzik Baldwin
RE/MAX Village Square

516 Valley Road
Upper Montclair
New Jersey 07043
Office: 973-509-2222 x 104
Cell: 973-420-9043
Fax: 973-509-7779
robertabaldwin@verizon.net
RPBPhoenix@aol.com

Over the past decade plus, Roberta Baldwin has become one of Essex County's most respected real estate professionals, often quoted in the national media and, in 2007, a featured Realtor on the HGTV show "Bought & Sold". In 2007, The Baldwin Dream Team was a Top 3 RE/MAX team statewide, dollar volume. In 2006 & 2007, The Baldwin Dream Team ranked among the Top 2 producers in RE/MAX Village Square's 5-office network in Essex County, NJ and nationally at the coveted Chairman's Club service level. A recipient of the New Jersey Association of Realtors® Circle of Excellence Sales Award for the past 11 years, Roberta brings a myriad of talents to the job of helping her clients buy and sell homes. In 2003, she was named "Realtor of the Year" by the West Essex Board of Realtors. An award-winning former journalist, author, newspaper editor, marketing and publishing executive, her well-honed organizational, creative, and people skills are brought to bear on every deal she negotiates. She specializes in “staging homes” to give them a marketplace edge and, a such, has been the subject of feature articles in the New York Times, Star Ledger and other area newspapers. As past chair of the West Essex Board of Realtors’ Community Service Committee, she developed Library in a Box, an innovative, award-winning community literacy project bringing new children’s books to area daycare centers and also launched the now-annual "Just Sweaters" campaign for the WEBOR, spearheading the collection of warm garments for charity. A native of Rochester, NY, Roberta is Essex County, NJ's only top real estate producer who has also produced an off-Broadway musical, called (appropriately enough) “Suburb”. As the official biographer of singer Lionel Richie, in late 2004 she appeared as a 'talking head' on E!Entertainment's bio of the Richie family. Roberta is married to biographer and historian Neil Baldwin (please visit him at www.neilbaldwinbooks.com!) They have two grown children -- Allegra, a young executive in the fashion industry, and Nick, a member of The Baldwin Dream Team -- who grew up happily in Montclair and Glen Ridge after spending their earliest years in Brooklyn Heights, NY. In early 2004, Roberta welcomed longtime Montclair resident Tamima Friedman to her real estate team. You may access Tamima and the rest of the team's bios on the "About Me" tab, in the "My Associates Page" at the top of this website's Home Page. Tamima, a former freelance writer and home renovator, spent a decade in the Far East before relocating to Montclair, NJ. The Baldwin Team grew again in 2005, as Nancy S. Chu came to us with a wonderful combination of administrative acumen and creative talent. Nancy was an administrator at NYU Medical Center and a highly-regarded NY theater director prior to joining RE/MAX. She speaks Mandarin Chinese. In 2007, Sidney Simon relocated from Atlanta to join the team after a career career in human resources; Nick Baldwin segued from his personal training business to cover our rental and condo buyers, and Sam Anderson, a well-known local Realtor, became our transaction coordinator and investment and multi-family specialist. The team welcomes buyers from the world over to email or call them to discuss living in Essex County's beautiful towns; local residents are invited to experience the professionalism of The Baldwin Dream Team when they are ready to sell their homes. We are at your service!

MLSRELOREALTOREqual Housing


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