Calculators

Down Payment & Settlement Costs [Must have Microsoft Excel software]

These spreadsheets allow the user to input basic information such as sale price, loan amount, yearly taxes, HOA or condo fee, interest rate, etc. and print out a GFE personalized with your name and contact information. The right side of the spreadsheet displays pre-calculated transfer/recordation taxes for all counties in MD as well as VA and DC and also shows current mortgage insurance factors, VA funding fees and maximum loans amounts for each respective MSA and additional information and notes to keep you up to date on basic mortgage financing information.

• FHA/VA [click to download]
  Calculates a complete PRE-2010 Good Faith Estimate for either FHA or VA financing with minimal input. The new 2010 GFE does not show the down payment or seller/lender credits.
• Conventional [click to download]
  Calculates a complete PRE-2010 Good Faith Estimate for Conventional financing with minimal input. The new 2010 GFE does not show down payment or seller/lender credits.

Payments

• Mortgage Payment Calculator
  Displays your mortgage payment and amortization schedule for the term of your loan.
• Monthly Mortgage Payment Calculator
  Calculates how much interest you save by prepaying the principal on your loan.
• Interest Only Payment Calculator
  Computes the monthly savings for an Interest Only payment loan. What is an Interest Only Loan?
• Payment Option ARM Calculator
  Shows you the monthly payments for an Option ARM, also called a Negative Amortized ARM loan. What is an Option ARM Loan?

• Rent Vs. Buy Calculator
  Allows you to compare the costs of renting a residence versus buying a home.
• Mortgage Qualification Calculator
  Calculates the maximum purchase price.

• Refinance Calculator
  Helps you determine if you will benefit by refinancing.
• Debt Consolidation Calculator
  Shows you how a refinance can reduce your monthly payments.

• Credit Grade Calculator
  Helps you determine your credit rating.

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Benefit Funding Corporation - 1302 Cronson Blvd., Suite A - Crofton, MD 21114
Office Phone: (301) 858-9300x232 Fax: (301) 858-0845 Evenings/Wkends: (301) 655-7900
Toll Free Phone: (888) 467-0200x232
E-Mail: ahossick@benefitfunding.com

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