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Jumbo Loan Calculator

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Jumbo Loan Calculator

Jumbo mortgages are a good solution for borrowers who are looking to buy a higher-priced home. A jumbo loan is one which is higher than the conforming loan limit for the county or state. For most areas of the country, loans above $484,350 are considered jumbo. At RK Mortgage Group we offer some of the most versatile jumbo loan programs in the industry at a lower rate.

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Low Rates

We offer one of the industries lowest rates.

Secured Online Process

Upload loan documents and e-sign mortgage forms online.

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Your dedicated Loan Specialist will be your guide from application to closing.

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We’ll help you close quickly, so you can get the keys to your new home in no time.

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Mortgage Calculator

Simply enter the price of the home and your down payment. In seconds, you will have an estimate of your monthly mortgage payment, schedule and closing cost.
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Are you thinking about purchasing a new home with a jumbo mortgage or refinancing your existing jumbo loan? Using a jumbo mortgage calculator can help you understand how loan options affect your payment amount, payoff and your total out of pocket expenses. 

How to Use a Jumbo Mortgage Calculator

Jumbo mortgage calculators work with four variables associated with your loan. These include term length, jumbo loan amount, payment amount and interest rate. Paying close attention to these details can save you thousands of dollars whether you’re applying for a conforming loan or a jumbo mortgage. 

Types of Jumbo Calculators

There are three basic types of mortgage calculators. These include purchase, refinance, and amortization. Purchase calculators can help you analyze the numbers and determine if the monthly payment on the property you are purchasing is within your income budget. You’ll also be able to see how choosing a 15-year term versus a 30-year term length along with the amount of your jumbo loan down payment affects your greater payment amount. 

You can even factor in the difference between choosing a fixed or adjustable interest rate. Some purchase calculators allow you to factor in taxes and insurance for the most accurate payment amount.

If you’re having trouble making sense of the data we have mortgage specialists standing help you make sense of your options and choose the right credit program for your family.

If you are shopping for a new mortgage to refinance your existing jumbo, refinance calculators can help you make educated decisions when choosing programs from a variety of lenders. With a refinance calculator, you can weigh the decision of lowering your monthly payment or paying off your home sooner. 

You can play with various options including rate type and term length to see how your monthly payment changes.

The third type of calculator you’ll encounter is an amortization calculator. Amortization is the schedule that repays your mortgage. Your monthly payment is divided between repaying principal and paying interest to the lender. The amortization schedule determines how much goes where. 

Mortgages are front loaded with interest. This means in the early years most your payment amount goes to the lender as interest and very little is applied the principal balance. Over time this gradually reverses with more being applied to principal and less going into the lender’s pockets.

You can visualize this schedule playing out over time using an amortization calculator. If you’re unhappy with the amount of cash going to the lender versus repaying your mortgage you can see how paying extra each month pays down your loan principal ahead of schedule.

Mortgage calculators are an excellent tool for understanding how different loan options like programs, interest rates, and term lengths all affect your bottom line. They can be invaluable for comparison shopping and will save you thousands of dollars when used correctly.

Do you need help crunching the numbers to make sure you’re not overlooking anything on your next mortgage? Contact one of our licensed loan specialists and get started saving today!

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