What are /r/Mortgages' favorite Products & Services?

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Everyone already has accurate info up. I use this as a backup if I don't have my handheld calculators...

https://play.google.com/store/apps/details?id=com.drcalculator.android.mortgage

As far as lender goes, there's two things they can influence. Rate, and mortgage insurance rate. Taxes and insurance will be what they are... For mortgage insurance at 5% but less than 10% down, you should see a monthly rate of .38% or lower. (Loan amount X mi rate / 12 = monthly mi)

So what does your monthly pipeline look like in terms of # of loans and overall volume?

What do you think of this article regarding the numbers for the average loan officer?

The app Karl's Mortgage Calculator can do this. change the loan settings to paying it bi-weekly and then add in your extra payment.

https://play.google.com/store/apps/details?id=com.drcalculator.android.mortgage

The old school way takes some time.

Easier way to calculate by hand:

1. Use hand to hold phone, download this: https://play.google.com/store/apps/details?id=com.drcalculator.android.mortgage

2. Open app, check the box rate. Enter loan amount, term, and payment. You need 3 out of 4 to determine...

Or, if doing this because you're getting into mortgage or finance let me know and I'll post the best calculator to buy. I keep one in my bag, one on desk.

Call up Charles Schwab and get a second opinion. They use quicken loans. If I was gonna get a heloc I would get one from them. Here’s a link https://www.schwab.com/public/schwab/banking_lending/home_equity_line_of_credit

Most all of the 1st time home buyer programs don't have the best interest rates, and if you get any type of FannieMae Homestyle, or FHA 203k (renovation loan), the rates are not great. You would be better off putting down 10% or 20% down payment, and then obtaining a HELOC on the property up to 100% CLTV if you need to do any repairs, etc.. I can show you how to do this.

Also, to avoid PMI if you were to put down 10% you could do an 80/10/10 (1st mortgage is at 80% Loan to Value, 2nd Mortgage is a HELOC for 10%, and the other 10% is your down payment. You also have the option of LPMI (Lender Paid Mortgage Insurance) where the interest rate is bumped up a little bit, and the PMI gets rolled into the Interest Rate, so this way you're able to take advantage of the Mortgage Interest Rate Tax Write-off. Or, you could Pre-Pay the full amount of the PMI upfront (not the best choice, but there's situations where this is a good idea).

Also, I'm not a tax expert, as you'll have to consult with one, but if you did take out the HELOC on the primary home to do renovation, that's a legitimate reason for you to write the HELOC interest off from taxes, as opposed if you took the HELOC out on the condo for the down payment for a new home. https://www.schwab.com/resource-center/insights/content/is-interest-on-heloc-still-tax-deductible

If you are a veteran you can get a VA loan with no PMI but you are not have either have to 20% to avoid it or do a Lender Paid MI loan where the lender pays for it but it typically comes with higher interest rate and only makes sense for folks with excellent credit. I will say that putting 15% down will lower the mortgage insurance rate significantly. You can also finance the remaining amount or pay it the amount upfront. For example https://www.screencast.com/t/nvrhvn9Te

Yeah, I have a Genie garage door opener where the learn button is broken. So you have to use that button to allow a new 'signal' to be accepted from a new clicker. With that button broken, a universal remote won't work. I bought one already, but it won't sync unless that button is useable...lame.

I also have a Chamberlain garage door opener for my 2nd door and it works perfectly, they also left an outside keypad to open the Chamberlain one...but of course didn't leave me the code. Also didn't leave me the code for the home security system. lol

But, on door locks, we did the same thing. Just last weekend I finally installed a "Schlage Connect Camelot" touchscreen one and I also bought SmartThings hub which connects to the lock. So now I can see the status of my door locks and also unlock/lock them from my phone. :)

https://www.amazon.com/gp/product/B01DUX1HHI/ref=oh_aui_search_detailpage?ie=UTF8&psc=1

Figured now that I own a house I should invest in home automation, it's expensive! But a lot of fun to add more devices.

Going further, I installed a couple of multi-sensors on my garage doors, so now I know when they are open or closed, specifically when at night. If they are opened or left open after 10pm my phone will alert me.

I have written a mortgage calculator for android but it currently does not handle the issue you mentioned above. But it looks like a good feature (mortgage qualifier) to add to my tool https://play.google.com/store/apps/details?id=com.sanscloud.finance.mortgage

You can use my mortgage calculator app for android to get a feel for how mortgages work. Basically mortgage is money that a financial institution such as a Bank will lend you to purchase a home. Let say you want to purchase a house that has a purchase price of $500K. Let say you have saved $50K for purchasing the house. So you would go to a Bank and get a mortgage for the remaining $450K. This will allow you to purchase the house. The bank will charge you an interest rate and let you pay back the money over a period of time (from 15 years to 30 years) . If you punch in all this figures (property price, down payment amount, interest rate and term length) the calculator will tell your periodic payments. There is lot more to mortgages and reading a good book would help. My calculator can help you understand more about how mortgages work by quick trying out different scenarios. I also include other things like home insurance cost, mortgage insurance, utilities and maintenance, closing costs, different payment period such as monthly , bi-weekly, etc. These also a basic real estate investment calculator (in case you are looking to purchase an property for investment purpose).
You can get it for free on android play store at Mortgage Calculator - Android Apps on Google Play (https://play.google.com/store/apps/details?id=com.sanscloud.finance.mortgage)

You can use my mortgage calculator app for android to get a feel for how much mortgage / house price you can afford. Personally, I would payoff the mortgage loan and buy the house out right. If you needed the money our can always take out a HLOC, although I would not advise one. There are other costs involved in purchasing and carrying a house. My calculator will tell you the total cost of owing a home including mortgage, homeowners insurance, Utilities, maintenance, mortgage insurance (if applicable). You can also model one time closing costs like lawyer fees, appraisals, taxes, land transfer taxes etc.
you can also try out different scenarios such as varying your interest rate or down payments etc.

You can get it for free on android play store at Mortgage Calculator - Android Apps on Google Play (https://play.google.com/store/apps/details?id=com.sanscloud.finance.mortgage)