Mortgage Calculator

When you begin shopping for a new home one of the first things you need to determine is this: what can I afford? Our mortgage calculator will help you quickly determine a ballpark number.

The ballpark, of course, isn’t good enough, but it will get you started. Try it out. Plug in a price for a new home, the amount you plan on as a down payment, the term (length) of the loan, and the current interest rate.

This number is your starting point. It’s the payment amount that includes the principal and interest. It does not, however, include insurance and taxes (the “TI” part of “PITI”). Your Realtor at the Dunes Marketing Group can readily provide this information for Hilton Head Island, Daufuskie Island, Bluffton, and the surrounding areas.

Use this calculator to do a bit of experimenting before you start shopping for homes. It will help you set your parameters and will also help to limit the disappointments if you start looking at homes that you can’t currently afford. If you limit your home search on Hilton Head to homes you can comfortably afford, you’ll have a much more pleasant experience.

It’s a good idea that once you have your ballpark number that you call us [link: contact] and meet with a Dunes Marketing Group Realtor that will help you refine your “in the ballpark” number to one that’s right in the strike zone. We know many techniques that may help you lower your payments or to affordably expand the types of properties you’ll be looking at.

You’ll also be able to use the estimate that this calculator creates to start off your conversation with lenders. This will be the first thing that your bank or mortgage broker will ask you: “How big of a loan are you looking for?” With this calculator, you’ll be able to tell them, “In the ballpark of...”

So have fun! The mortgage calculator is just the first step. You may be surprised at what you can afford and what that will mean in helping you achieve your dreams of a vacation home or permanent new residence on Hilton Head Island.