As mortgage professionals with more than 40 years’ experience, The Axiom Mortgage Solutions team offers one-stop convenience and impartial advice. Various financial institutions and lenders offer a wide selection of mortgage products that provide different rates, terms, and conditions. By shopping wisely, our mortgage brokerage firm in Essex County can provide a solution that best suits your financial needs.
What are the advantages of using a mortgage calculator?
If you live in Essex County or Windsor, our mortgage calculator can be a really helpful exercise when figuring out your mortgage requirements. Take a look at the benefits which a mortgage calculator can bring:
Budget effectively with a mortgage calculator
A mortgage is a long-term commitment, which is why you must pick a repayment schedule that suits your budget. Knowing how much you’ll have to set aside each month is important not just for the immediate future, but also when considering your plans for ten, twenty or even thirty years into the future.
Life events such as the birth of a child, unemployment or illness can all impact on your ability to pay. Advance knowledge of your repayment schedule allows planning to ensure you’re able to afford your chosen mortgage product.
Find the most advantageous rate of interest
As an independent broker, we work with a wide range of lenders to bring you the most competitive rate possible for your circumstances. The mortgage guide can give you a rough idea of your repayments: if you want to save more, get in touch and we will take a look at your unique situation to see if you can enjoy borrowing for less.
Get the total picture
Many homeowners are quite shocked when they see how much interest they will be paying over the lifetime of their home loan! The loan calculator can often prompt loan applicants to consider how to best reduce the amount of interest they end up paying.
From borrowing less through to increasing repayments or searching for a more competitive loan product, there are several different strategies that can be used to reduce the lifetime financial obligation of your mortgage. Why not ask us about low-interest options?
Try out different mortgage scenarios
One of the joys of the mortgage calculator is the ability it offers to input figures which cover a variety of different scenarios. This means users can see how much they might save through early repayment, for example, or calculate the total loan figure for several different loan rates. This type of information is extremely helpful when it comes to working out how to borrow in a way that suits your values and lifestyle.
For example, some people may prefer to make lower monthly payments and therefore pay more interest, but have more money available on a day-to-day basis. Conversely, others may prefer to live a frugal lifestyle, but maximize their mortgage repayments to clear the debt as soon as possible.
Don’t forget to consider other mortgage variables
Although the mortgage calculator is a good start when it comes to deciding on your lending, there are several other variables to take into consideration. Different loans offer a range of advantages such as repayment holidays, an initial period when a lower rate of interest needs to be paid, no fees and similar benefits.
Get in touch so that we can find you a mortgage that not only offers competitive interest, but which may also save you money or provide you with welcome financial flexibility.
Ask us about individual mortgage scenarios
We offer professional mortgage advice and information to home loan applicants of many different types. Our wealth of local knowledge, coupled with our extensive experience in the mortgage market, allows us to add value to your decision-making, as well as potentially save you money.