Mortgage Tools
Quick Links
Mortgage Tools
Mortgage calculators are used to help a home owner determine how much they can afford to borrow to purchase or refinance a piece of real estate. A mortgage calculator is an automated tool that enables the user to quickly determine the financial implications of changes in one or more variables in a mortgage financing arrangement.
Click on the below link to calculate your prospective mortgage, LIBOR or other financial indices.
Prime Rate
The Prime Rate is used in calculating some mortgages, namely Home Equity Lines of Credit. Most commonly it is the base rate on corporate loans posted by at least 75% of the nation's 30 largest banks.
The 1year LIBOR is used to calculate Adjustable Rage Mortgages, "ARM's".
Click on one of the below links to check the current prime rate, LIBOR or other financial indices.
Credit Agencies
A credit rating agency is a company that assigns credit ratings for issuers of certain types of debt obligations. In most cases, these issuers are companies, cities, non-profit organizations, or national governments issuing debt-like securities that can be traded on a secondary market. A credit rating measures credit worthiness , the ability to pay back a loan, and affects the interest rate applied to loans. A company that issues credit scores for individual credit-worthiness is generally called a credit bureau or credit reporting agency.
The following are links to various credit agencies:
