All Philippines Mortgage (Home) Calculator

Home Price
₱
Down Payment
Loan Term
Interest Rate
%
Start Date
Monthly Payment
Results Summary

House Price: ₱2700000.00

Loan Amount: ₱2430000.00

Down Payment: ₱270000.00

Total of 240 Mortgage Payments: ₱3595840.80

Total Interest: ₱1165840.80

Mortgage Payoff Date: Apr 2045

Amortization Schedule

🗓️ Monthly Amortization Schedule
MonthDateInterestPrincipalEnding Balance
1 Apr 2025 ₱8505.00 ₱6477.67 ₱2423522.33
2 May 2025 ₱8482.33 ₱6500.34 ₱2417021.99
3 Jun 2025 ₱8459.58 ₱6523.09 ₱2410498.90
4 Jul 2025 ₱8436.75 ₱6545.92 ₱2403952.97
5 Aug 2025 ₱8413.84 ₱6568.83 ₱2397384.14
6 Sep 2025 ₱8390.84 ₱6591.83 ₱2390792.31
7 Oct 2025 ₱8367.77 ₱6614.90 ₱2384177.41
8 Nov 2025 ₱8344.62 ₱6638.05 ₱2377539.37
9 Dec 2025 ₱8321.39 ₱6661.28 ₱2370878.08
10 Jan 2026 ₱8298.07 ₱6684.60 ₱2364193.49
11 Feb 2026 ₱8274.68 ₱6707.99 ₱2357485.49
12 Mar 2026 ₱8251.20 ₱6731.47 ₱2350754.02
13 Apr 2026 ₱8227.64 ₱6755.03 ₱2343998.99
14 May 2026 ₱8204.00 ₱6778.67 ₱2337220.32
15 Jun 2026 ₱8180.27 ₱6802.40 ₱2330417.92
16 Jul 2026 ₱8156.46 ₱6826.21 ₱2323591.71
17 Aug 2026 ₱8132.57 ₱6850.10 ₱2316741.61
18 Sep 2026 ₱8108.60 ₱6874.07 ₱2309867.54
19 Oct 2026 ₱8084.54 ₱6898.13 ₱2302969.41
20 Nov 2026 ₱8060.39 ₱6922.28 ₱2296047.13
21 Dec 2026 ₱8036.16 ₱6946.51 ₱2289100.62
22 Jan 2027 ₱8011.85 ₱6970.82 ₱2282129.81
23 Feb 2027 ₱7987.45 ₱6995.22 ₱2275134.59
24 Mar 2027 ₱7962.97 ₱7019.70 ₱2268114.89
25 Apr 2027 ₱7938.40 ₱7044.27 ₱2261070.62
26 May 2027 ₱7913.75 ₱7068.92 ₱2254001.70
27 Jun 2027 ₱7889.01 ₱7093.66 ₱2246908.04
28 Jul 2027 ₱7864.18 ₱7118.49 ₱2239789.54
29 Aug 2027 ₱7839.26 ₱7143.41 ₱2232646.14
30 Sep 2027 ₱7814.26 ₱7168.41 ₱2225477.73
31 Oct 2027 ₱7789.17 ₱7193.50 ₱2218284.23
32 Nov 2027 ₱7763.99 ₱7218.68 ₱2211065.56
33 Dec 2027 ₱7738.73 ₱7243.94 ₱2203821.62
34 Jan 2028 ₱7713.38 ₱7269.29 ₱2196552.32
35 Feb 2028 ₱7687.93 ₱7294.74 ₱2189257.58
36 Mar 2028 ₱7662.40 ₱7320.27 ₱2181937.32
37 Apr 2028 ₱7636.78 ₱7345.89 ₱2174591.43
38 May 2028 ₱7611.07 ₱7371.60 ₱2167219.83
39 Jun 2028 ₱7585.27 ₱7397.40 ₱2159822.43
40 Jul 2028 ₱7559.38 ₱7423.29 ₱2152399.13
41 Aug 2028 ₱7533.40 ₱7449.27 ₱2144949.86
42 Sep 2028 ₱7507.32 ₱7475.35 ₱2137474.52
43 Oct 2028 ₱7481.16 ₱7501.51 ₱2129973.01
44 Nov 2028 ₱7454.91 ₱7527.76 ₱2122445.24
45 Dec 2028 ₱7428.56 ₱7554.11 ₱2114891.13
46 Jan 2029 ₱7402.12 ₱7580.55 ₱2107310.58
47 Feb 2029 ₱7375.59 ₱7607.08 ₱2099703.50
48 Mar 2029 ₱7348.96 ₱7633.71 ₱2092069.79
49 Apr 2029 ₱7322.24 ₱7660.43 ₱2084409.36
50 May 2029 ₱7295.43 ₱7687.24 ₱2076722.13
51 Jun 2029 ₱7268.53 ₱7714.14 ₱2069007.98
52 Jul 2029 ₱7241.53 ₱7741.14 ₱2061266.84
53 Aug 2029 ₱7214.43 ₱7768.24 ₱2053498.60
54 Sep 2029 ₱7187.25 ₱7795.42 ₱2045703.18
55 Oct 2029 ₱7159.96 ₱7822.71 ₱2037880.47
56 Nov 2029 ₱7132.58 ₱7850.09 ₱2030030.38
57 Dec 2029 ₱7105.11 ₱7877.56 ₱2022152.82
58 Jan 2030 ₱7077.53 ₱7905.14 ₱2014247.68
59 Feb 2030 ₱7049.87 ₱7932.80 ₱2006314.88
60 Mar 2030 ₱7022.10 ₱7960.57 ₱1998354.31
61 Apr 2030 ₱6994.24 ₱7988.43 ₱1990365.88
62 May 2030 ₱6966.28 ₱8016.39 ₱1982349.49
63 Jun 2030 ₱6938.22 ₱8044.45 ₱1974305.05
64 Jul 2030 ₱6910.07 ₱8072.60 ₱1966232.44
65 Aug 2030 ₱6881.81 ₱8100.86 ₱1958131.59
66 Sep 2030 ₱6853.46 ₱8129.21 ₱1950002.38
67 Oct 2030 ₱6825.01 ₱8157.66 ₱1941844.72
68 Nov 2030 ₱6796.46 ₱8186.21 ₱1933658.50
69 Dec 2030 ₱6767.80 ₱8214.87 ₱1925443.64
70 Jan 2031 ₱6739.05 ₱8243.62 ₱1917200.02
71 Feb 2031 ₱6710.20 ₱8272.47 ₱1908927.55
72 Mar 2031 ₱6681.25 ₱8301.42 ₱1900626.13
73 Apr 2031 ₱6652.19 ₱8330.48 ₱1892295.65
74 May 2031 ₱6623.03 ₱8359.64 ₱1883936.01
75 Jun 2031 ₱6593.78 ₱8388.89 ₱1875547.12
76 Jul 2031 ₱6564.41 ₱8418.26 ₱1867128.86
77 Aug 2031 ₱6534.95 ₱8447.72 ₱1858681.15
78 Sep 2031 ₱6505.38 ₱8477.29 ₱1850203.86
79 Oct 2031 ₱6475.71 ₱8506.96 ₱1841696.90
80 Nov 2031 ₱6445.94 ₱8536.73 ₱1833160.17
81 Dec 2031 ₱6416.06 ₱8566.61 ₱1824593.56
82 Jan 2032 ₱6386.08 ₱8596.59 ₱1815996.97
83 Feb 2032 ₱6355.99 ₱8626.68 ₱1807370.29
84 Mar 2032 ₱6325.80 ₱8656.87 ₱1798713.42
85 Apr 2032 ₱6295.50 ₱8687.17 ₱1790026.24
86 May 2032 ₱6265.09 ₱8717.58 ₱1781308.66
87 Jun 2032 ₱6234.58 ₱8748.09 ₱1772560.57
88 Jul 2032 ₱6203.96 ₱8778.71 ₱1763781.87
89 Aug 2032 ₱6173.24 ₱8809.43 ₱1754972.43
90 Sep 2032 ₱6142.40 ₱8840.27 ₱1746132.17
91 Oct 2032 ₱6111.46 ₱8871.21 ₱1737260.96
92 Nov 2032 ₱6080.41 ₱8902.26 ₱1728358.70
93 Dec 2032 ₱6049.26 ₱8933.41 ₱1719425.29
94 Jan 2033 ₱6017.99 ₱8964.68 ₱1710460.61
95 Feb 2033 ₱5986.61 ₱8996.06 ₱1701464.55
96 Mar 2033 ₱5955.13 ₱9027.54 ₱1692437.00
97 Apr 2033 ₱5923.53 ₱9059.14 ₱1683377.86
98 May 2033 ₱5891.82 ₱9090.85 ₱1674287.02
99 Jun 2033 ₱5860.00 ₱9122.67 ₱1665164.35
100 Jul 2033 ₱5828.08 ₱9154.59 ₱1656009.76
101 Aug 2033 ₱5796.03 ₱9186.64 ₱1646823.12
102 Sep 2033 ₱5763.88 ₱9218.79 ₱1637604.33
103 Oct 2033 ₱5731.62 ₱9251.05 ₱1628353.28
104 Nov 2033 ₱5699.24 ₱9283.43 ₱1619069.84
105 Dec 2033 ₱5666.74 ₱9315.93 ₱1609753.92
106 Jan 2034 ₱5634.14 ₱9348.53 ₱1600405.39
107 Feb 2034 ₱5601.42 ₱9381.25 ₱1591024.14
108 Mar 2034 ₱5568.58 ₱9414.09 ₱1581610.05
109 Apr 2034 ₱5535.64 ₱9447.03 ₱1572163.01
110 May 2034 ₱5502.57 ₱9480.10 ₱1562682.92
111 Jun 2034 ₱5469.39 ₱9513.28 ₱1553169.64
112 Jul 2034 ₱5436.09 ₱9546.58 ₱1543623.06
113 Aug 2034 ₱5402.68 ₱9579.99 ₱1534043.07
114 Sep 2034 ₱5369.15 ₱9613.52 ₱1524429.55
115 Oct 2034 ₱5335.50 ₱9647.17 ₱1514782.38
116 Nov 2034 ₱5301.74 ₱9680.93 ₱1505101.45
117 Dec 2034 ₱5267.86 ₱9714.81 ₱1495386.64
118 Jan 2035 ₱5233.85 ₱9748.82 ₱1485637.82
119 Feb 2035 ₱5199.73 ₱9782.94 ₱1475854.88
120 Mar 2035 ₱5165.49 ₱9817.18 ₱1466037.71
121 Apr 2035 ₱5131.13 ₱9851.54 ₱1456186.17
122 May 2035 ₱5096.65 ₱9886.02 ₱1446300.15
123 Jun 2035 ₱5062.05 ₱9920.62 ₱1436379.53
124 Jul 2035 ₱5027.33 ₱9955.34 ₱1426424.19
125 Aug 2035 ₱4992.48 ₱9990.19 ₱1416434.00
126 Sep 2035 ₱4957.52 ₱10025.15 ₱1406408.85
127 Oct 2035 ₱4922.43 ₱10060.24 ₱1396348.61
128 Nov 2035 ₱4887.22 ₱10095.45 ₱1386253.16
129 Dec 2035 ₱4851.89 ₱10130.78 ₱1376122.38
130 Jan 2036 ₱4816.43 ₱10166.24 ₱1365956.14
131 Feb 2036 ₱4780.85 ₱10201.82 ₱1355754.31
132 Mar 2036 ₱4745.14 ₱10237.53 ₱1345516.78
133 Apr 2036 ₱4709.31 ₱10273.36 ₱1335243.42
134 May 2036 ₱4673.35 ₱10309.32 ₱1324934.10
135 Jun 2036 ₱4637.27 ₱10345.40 ₱1314588.70
136 Jul 2036 ₱4601.06 ₱10381.61 ₱1304207.09
137 Aug 2036 ₱4564.72 ₱10417.95 ₱1293789.15
138 Sep 2036 ₱4528.26 ₱10454.41 ₱1283334.74
139 Oct 2036 ₱4491.67 ₱10491.00 ₱1272843.74
140 Nov 2036 ₱4454.95 ₱10527.72 ₱1262316.03
141 Dec 2036 ₱4418.11 ₱10564.56 ₱1251751.46
142 Jan 2037 ₱4381.13 ₱10601.54 ₱1241149.92
143 Feb 2037 ₱4344.02 ₱10638.65 ₱1230511.28
144 Mar 2037 ₱4306.79 ₱10675.88 ₱1219835.40
145 Apr 2037 ₱4269.42 ₱10713.25 ₱1209122.15
146 May 2037 ₱4231.93 ₱10750.74 ₱1198371.41
147 Jun 2037 ₱4194.30 ₱10788.37 ₱1187583.04
148 Jul 2037 ₱4156.54 ₱10826.13 ₱1176756.91
149 Aug 2037 ₱4118.65 ₱10864.02 ₱1165892.89
150 Sep 2037 ₱4080.63 ₱10902.04 ₱1154990.84
151 Oct 2037 ₱4042.47 ₱10940.20 ₱1144050.64
152 Nov 2037 ₱4004.18 ₱10978.49 ₱1133072.15
153 Dec 2037 ₱3965.75 ₱11016.92 ₱1122055.23
154 Jan 2038 ₱3927.19 ₱11055.48 ₱1110999.75
155 Feb 2038 ₱3888.50 ₱11094.17 ₱1099905.58
156 Mar 2038 ₱3849.67 ₱11133.00 ₱1088772.58
157 Apr 2038 ₱3810.70 ₱11171.97 ₱1077600.62
158 May 2038 ₱3771.60 ₱11211.07 ₱1066389.55
159 Jun 2038 ₱3732.36 ₱11250.31 ₱1055139.24
160 Jul 2038 ₱3692.99 ₱11289.68 ₱1043849.56
161 Aug 2038 ₱3653.47 ₱11329.20 ₱1032520.36
162 Sep 2038 ₱3613.82 ₱11368.85 ₱1021151.51
163 Oct 2038 ₱3574.03 ₱11408.64 ₱1009742.87
164 Nov 2038 ₱3534.10 ₱11448.57 ₱998294.30
165 Dec 2038 ₱3494.03 ₱11488.64 ₱986805.66
166 Jan 2039 ₱3453.82 ₱11528.85 ₱975276.81
167 Feb 2039 ₱3413.47 ₱11569.20 ₱963707.61
168 Mar 2039 ₱3372.98 ₱11609.69 ₱952097.92
169 Apr 2039 ₱3332.34 ₱11650.33 ₱940447.59
170 May 2039 ₱3291.57 ₱11691.10 ₱928756.49
171 Jun 2039 ₱3250.65 ₱11732.02 ₱917024.47
172 Jul 2039 ₱3209.59 ₱11773.08 ₱905251.38
173 Aug 2039 ₱3168.38 ₱11814.29 ₱893437.09
174 Sep 2039 ₱3127.03 ₱11855.64 ₱881581.45
175 Oct 2039 ₱3085.54 ₱11897.13 ₱869684.32
176 Nov 2039 ₱3043.90 ₱11938.77 ₱857745.54
177 Dec 2039 ₱3002.11 ₱11980.56 ₱845764.98
178 Jan 2040 ₱2960.18 ₱12022.49 ₱833742.49
179 Feb 2040 ₱2918.10 ₱12064.57 ₱821677.92
180 Mar 2040 ₱2875.87 ₱12106.80 ₱809571.12
181 Apr 2040 ₱2833.50 ₱12149.17 ₱797421.95
182 May 2040 ₱2790.98 ₱12191.69 ₱785230.26
183 Jun 2040 ₱2748.31 ₱12234.36 ₱772995.89
184 Jul 2040 ₱2705.49 ₱12277.18 ₱760718.71
185 Aug 2040 ₱2662.52 ₱12320.15 ₱748398.55
186 Sep 2040 ₱2619.39 ₱12363.28 ₱736035.28
187 Oct 2040 ₱2576.12 ₱12406.55 ₱723628.73
188 Nov 2040 ₱2532.70 ₱12449.97 ₱711178.76
189 Dec 2040 ₱2489.13 ₱12493.54 ₱698685.22
190 Jan 2041 ₱2445.40 ₱12537.27 ₱686147.95
191 Feb 2041 ₱2401.52 ₱12581.15 ₱673566.79
192 Mar 2041 ₱2357.48 ₱12625.19 ₱660941.61
193 Apr 2041 ₱2313.30 ₱12669.37 ₱648272.23
194 May 2041 ₱2268.95 ₱12713.72 ₱635558.52
195 Jun 2041 ₱2224.45 ₱12758.22 ₱622800.30
196 Jul 2041 ₱2179.80 ₱12802.87 ₱609997.43
197 Aug 2041 ₱2134.99 ₱12847.68 ₱597149.75
198 Sep 2041 ₱2090.02 ₱12892.65 ₱584257.11
199 Oct 2041 ₱2044.90 ₱12937.77 ₱571319.34
200 Nov 2041 ₱1999.62 ₱12983.05 ₱558336.28
201 Dec 2041 ₱1954.18 ₱13028.49 ₱545307.79
202 Jan 2042 ₱1908.58 ₱13074.09 ₱532233.70
203 Feb 2042 ₱1862.82 ₱13119.85 ₱519113.85
204 Mar 2042 ₱1816.90 ₱13165.77 ₱505948.07
205 Apr 2042 ₱1770.82 ₱13211.85 ₱492736.22
206 May 2042 ₱1724.58 ₱13258.09 ₱479478.13
207 Jun 2042 ₱1678.17 ₱13304.50 ₱466173.63
208 Jul 2042 ₱1631.61 ₱13351.06 ₱452822.57
209 Aug 2042 ₱1584.88 ₱13397.79 ₱439424.78
210 Sep 2042 ₱1537.99 ₱13444.68 ₱425980.10
211 Oct 2042 ₱1490.93 ₱13491.74 ₱412488.36
212 Nov 2042 ₱1443.71 ₱13538.96 ₱398949.40
213 Dec 2042 ₱1396.32 ₱13586.35 ₱385363.05
214 Jan 2043 ₱1348.77 ₱13633.90 ₱371729.15
215 Feb 2043 ₱1301.05 ₱13681.62 ₱358047.53
216 Mar 2043 ₱1253.17 ₱13729.50 ₱344318.03
217 Apr 2043 ₱1205.11 ₱13777.56 ₱330540.47
218 May 2043 ₱1156.89 ₱13825.78 ₱316714.69
219 Jun 2043 ₱1108.50 ₱13874.17 ₱302840.52
220 Jul 2043 ₱1059.94 ₱13922.73 ₱288917.80
221 Aug 2043 ₱1011.21 ₱13971.46 ₱274946.34
222 Sep 2043 ₱962.31 ₱14020.36 ₱260925.98
223 Oct 2043 ₱913.24 ₱14069.43 ₱246856.55
224 Nov 2043 ₱864.00 ₱14118.67 ₱232737.88
225 Dec 2043 ₱814.58 ₱14168.09 ₱218569.79
226 Jan 2044 ₱764.99 ₱14217.68 ₱204352.12
227 Feb 2044 ₱715.23 ₱14267.44 ₱190084.68
228 Mar 2044 ₱665.30 ₱14317.37 ₱175767.31
229 Apr 2044 ₱615.19 ₱14367.48 ₱161399.82
230 May 2044 ₱564.90 ₱14417.77 ₱146982.05
231 Jun 2044 ₱514.44 ₱14468.23 ₱132513.82
232 Jul 2044 ₱463.80 ₱14518.87 ₱117994.95
233 Aug 2044 ₱412.98 ₱14569.69 ₱103425.26
234 Sep 2044 ₱361.99 ₱14620.68 ₱88804.58
235 Oct 2044 ₱310.82 ₱14671.85 ₱74132.72
236 Nov 2044 ₱259.46 ₱14723.21 ₱59409.52
237 Dec 2044 ₱207.93 ₱14774.74 ₱44634.78
238 Jan 2045 ₱156.22 ₱14826.45 ₱29808.33
239 Feb 2045 ₱104.33 ₱14878.34 ₱14929.99
240 Mar 2045 ₱52.25 ₱14930.42 ₱-0.42

📅 Annual Amortization Schedule
YearDateInterestPrincipalEnding Balance
1 Apr 2025 - Apr 2026 ₱100546.06 ₱79245.98 ₱2350754.02
2 Apr 2026 - Apr 2027 ₱97152.91 ₱82639.13 ₱2268114.89
3 Apr 2027 - Apr 2028 ₱93614.46 ₱86177.58 ₱2181937.32
4 Apr 2028 - Apr 2029 ₱89924.51 ₱89867.53 ₱2092069.79
5 Apr 2029 - Apr 2030 ₱86076.56 ₱93715.48 ₱1998354.31
6 Apr 2030 - Apr 2031 ₱82063.85 ₱97728.19 ₱1900626.13
7 Apr 2031 - Apr 2032 ₱77879.33 ₱101912.71 ₱1798713.42
8 Apr 2032 - Apr 2033 ₱73515.63 ₱106276.41 ₱1692437.00
9 Apr 2033 - Apr 2034 ₱68965.09 ₱110826.95 ₱1581610.05
10 Apr 2034 - Apr 2035 ₱64219.70 ₱115572.34 ₱1466037.71
11 Apr 2035 - Apr 2036 ₱59271.12 ₱120520.92 ₱1345516.78
12 Apr 2036 - Apr 2037 ₱54110.65 ₱125681.39 ₱1219835.40
13 Apr 2037 - Apr 2038 ₱48729.23 ₱131062.81 ₱1088772.58
14 Apr 2038 - Apr 2039 ₱43117.38 ₱136674.66 ₱952097.92
15 Apr 2039 - Apr 2040 ₱37265.24 ₱142526.80 ₱809571.12
16 Apr 2040 - Apr 2041 ₱31162.53 ₱148629.51 ₱660941.61
17 Apr 2041 - Apr 2042 ₱24798.51 ₱154993.53 ₱505948.07
18 Apr 2042 - Apr 2043 ₱18161.99 ₱161630.05 ₱344318.03
19 Apr 2043 - Apr 2044 ₱11241.32 ₱168550.72 ₱175767.31
20 Apr 2044 - Apr 2045 ₱4024.31 ₱175767.73 ₱-0.42

 

Simple Mortgage (Home) Loan Repayment Calculator Philippines

Calculating your mortgage repayment can be a daunting task, but with the Simple Mortgage (Home) Loan Repayment Calculator from mortgagecalculator24.com, you can easily determine your monthly payments. This user-friendly tool is designed specifically for the Philippine market, helping you make informed financial decisions when it comes to purchasing your dream home.

How the Simple Mortgage (Home) Loan Repayment Calculator Philippines Works

  • Enter Home Price
  • Specify Down Payment (optional)
  • Select Loan Term
  • Input Interest Rate
  • Choose Start Date
  • Add Taxes and Other Amounts
  • Get Instant Results

Factors to Consider Before Getting a Mortgage

Before applying for a mortgage, it’s essential to consider the following factors:

  • Credit Score: A higher score can lead to better interest rates.
  • Income Stability: Ensure you have a steady income to cover repayments.
  • Debt-to-Income Ratio: Lenders assess your existing debts relative to your income.
  • Property Location: The location can affect property value and insurance costs.
  • Loan Type: Understand the differences between fixed-rate and adjustable-rate mortgages.

Common Mistakes to Avoid When Getting a Mortgage in the Philippines

Here are some common pitfalls that borrowers should avoid:

  • Not Researching Lenders: Always compare different lenders to find the best terms.
  • Ignoring the Total Cost: Look beyond monthly payments to understand the total loan cost.
  • Underestimating Additional Costs: Be aware of fees beyond the principal and interest.
  • Failing to Read the Fine Print: Always review loan documents carefully before signing.
  • Not Considering Future Financial Situations: Plan for potential changes in income or expenses.

Mortgage Costs Often Overlooked

  • Closing Costs: Fees incurred during the closing of a real estate transaction, typically 2-5% of the loan amount.
  • Property Taxes: Annual taxes assessed on property value, which can fluctuate based on location.
  • Homeowners Insurance: Protects your home against damages; required by lenders.
  • Pest Inspections: Some lenders may require inspections for pests or termites before approving a loan.
  • Maintenance Costs: Regular upkeep can significantly impact your overall budget.

Frequently Asked Questions About Mortgages in the Philippines

What is the ideal down payment for a mortgage?

Typically, a down payment of 20% is recommended, but some lenders may allow lower percentages.

How long does it take to process a mortgage application?

The processing time can vary but usually takes 30 to 45 days.

Can I pay off my mortgage early?

Yes, but check for any prepayment penalties in your mortgage agreement.

What is the difference between fixed-rate and adjustable-rate mortgages?

A fixed-rate mortgage maintains the same interest rate throughout the loan term, while an adjustable-rate mortgage can change based on market conditions.

Are there government programs available for first-time home buyers?

Yes, various programs exist to help first-time buyers, including government-backed loans.

What is a mortgage pre-approval?

A mortgage pre-approval is a lender’s estimate of how much money you can borrow based on your financial situation.

How can I improve my credit score before applying for a mortgage?

Pay down debts, make payments on time, and check your credit report for errors to improve your score.

What should I do if I miss a mortgage payment?

Contact your lender immediately to discuss your options and avoid foreclosure.

Is it better to get a shorter or longer loan term?

A shorter loan term typically means higher monthly payments but less interest paid overall.

Do I need an attorney to close on a mortgage?

While not always required, having an attorney can help ensure that all legal aspects of the transaction are handled properly.