PITI Mortgage Calculator for homebuyers is an invaluable tool that is a must in a homebuyer’s toolkit. It stands for principal, interest, tax (property) & insurance (homeowners). It can be used for calculating payments for both convention and Federal Housing Administration loans.
Among all the calculators and tools on offer for homebuyers, the PITI mortgage calculator is likely the most useful one. Without it, homebuyers would be hard pressed to work out the total payment on a proposal inclusive of the principal, interest, tax and insurance. This tool can be used for both conventional fixed rates loans as well as FHA loans.
A Commercial Mortgage Loan is a longer term loan which replaces the short term loan initially used to ‚kick-start‘ a development project. This type of loan is secured against a commercial property, whether that’s business premises, restaurants, shops/supermarkets or even factories. Commercial Mortgages are much more flexible than residential mortgages; interest rates are generally much lower and repayment terms much shorter. This is because small businesses provide a bigger business to the lender than residential properties do, so lenders are more willing to offer a larger amount of capital. As a result, there is a large level of incentive available to commercial mortgage customers as there is plenty of competition between banks/building societies for their custom. In fact, many of the most successful and powerful commercial mortgage lenders, as well as top commercial mortgage brokers, avoid originating small balance loans to businesses. As far as the lender is concerned, the amount of work and the effect involved in closing a small loan is exactly the same as closing a big one, but the compensation to the firm can be 10 times less.