| When it comes down to log home financing or a | | | | actually be paying on the prinicipal and how much |
| construction loan, it's really not as difficult as you | | | | you'll be paying on intrest. |
| may think. Most mortgage lenders give you the | | | | Extra Payment |
| option of pre-qualifying online and using there online | | | | * This shows you how much you can save over the |
| tools for free. This provides an excellent way to see | | | | period of your loan, by increasing your monthly |
| how much you qualify for in the comfort of your | | | | payment amount or by making an additional payment. |
| own home. Basically, this consist of: | | | | How Much Can You Afford |
| * Monthly Income | | | | * This will let you know the maximum payment that |
| * Monthly Debt/Payments, (any loan that won't be | | | | you will be able to afford, according to monthly |
| paid off within 10-11 mths). | | | | payment, interest rate, and term that you enter. |
| Loan Terms That You Desire | | | | Fixed Rate vs. ARM Calculator |
| * Intrest Rate (8%) | | | | *Compares the difference between a fixed-rate and |
| * Term (How many years you want the loan for) | | | | an adjustable-rate mortgage. |
| * Down Payment ( % of sales price) | | | | 15-Year vs. 30-Year Mortgage Calculator |
| They will even estimate your taxes and insurance. | | | | * 15-Year...Paid off sooner, but with higher payments. |
| Most log home financing companys offer online tools | | | | * 30-Year...Pay more intrest, but lower payments. |
| such as, calculators so you can figure: | | | | Refinance Interest Savings Calculator |
| Monthly Payments | | | | * Let's you see the benefits of refinancing. |
| * Calculates your payment for different loan | | | | So, if you've dreamed of owning a log home, make it |
| amounts, interest rates, and amortization terms. | | | | become a reality. Most log home lenders offer these |
| Payment Schedule | | | | valuable tools available online for free with no |
| *Breaksdown and shows you how much you will | | | | obligation. |