South Carolina Mortgage Calculator
Determining what your monthly house payment will be is an important part of the home buying process, our mortgage calculator can help you figure out how much you can expect to pay each month, especially when considering all the extra costs such as taxes, insurance and more.
Use BrickWood’s Mortgage calculator to estimate your future home’s mortgage payment. You can run different scenarios by adjusting loan details such as the loan amount, interest rate, and payment term. By using our South Carolina mortgage calculator you can:
- Determine the best home loan term length that’s right for you. For example, a 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. On the other hand, picking a 15-year fixed-rate mortgage will reduce the total interest on the loan, but your monthly payment will be higher.
- Determine a home price you can afford. Our mortgage payment calculator can give you a real picture on how much you can expect to pay each month, especially when considering other costs such as taxes, insurance and private mortgage insurance.
There are several ways you can secure a lower monthly payment on your South Carolina dream home’s mortgage:
- Opt for a longer payment term.
- Opt for a larger down payment – Not only will it help with the interest rate but can also lower your monthly payments.
- Select a smaller property or an equivalent lower-priced location.
- Obtain a lower interest rate – A larger down payment can bring down your interest rate.
Buying a house is a big step, at BrickWood Mortgage we can help you calculate mortgage payments and determine the type of home you can afford, to do so we’ll take a look at the factors below, along with other expenses.
- Your monthly income,
- Existing debt.
- Down payment.
It is important to remember that just because you can afford a house on paper it doesn’t mean your budget can actually handle the payments. You must consider how much money you’ll have left over after you make the down payment. In general, lenders look closely at your debt-to-income ratio (DTI).
You have to also calculate how much you expect to pay in maintenance and other house-related expenses; it is best to speak to a mortgage professional to help you calculate these. At BrickWood Mortgage, our team of mortgage experts can help you with these and many other questions; we are your local South Carolina mortgage broker in Charleston, SC; Myrtle Beach, SC; and beyond. Contact us today!
What Our Customers Are Saying
Timmy Nash was very helpful and professional. He was very friendly and knew exactly what he was doing and what we needed to get things
I am very thankful that I was referred to BrickWood Mortgage Inc and especially Paul Hankins! This was my first home buying experience and thanks
Our experience buying a house with BrickWood Mortgage was stellar. After our first conversation with Paul, we knew we were in great hands. He’s professional,