Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Mortgage calculator help?
I'm trying to find a mortgage calculator--or even an Excel template--to help me out here. We're looking at paying less than 20% down on a home, so we'll have PMI to pay, but then in about a year we will have some "freed up income" that we will use to pay more towards our mortgage monthly.
I'm having a hard time finding a loan calculator that asks for home value, down payment amount, AND a spot to add extra payment amounts. All I'm finding is loan amount + extra payment amount. But those calculations come out too low because they're not including PMI for those first few years.
Help?!
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Re: Mortgage calculator help?
There are calculators that factor PMI but that amount is never right. The PMI is different on every type of loan you can take. It is usually higher with FHA than with conventional. For example, I loaned 111k and my PMI is around 90 extra a month (FHA loan).
This one will calculate PMI but you need to know what your PMI rate is on your loan -
http://www.mlcalc.com/
If I use the standard already entered then it shows my payment as $50 less than I actually pay now.