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Special Offers - Special offers for Austin, Westlake Hills and Lake Travis homeowners from Fine Austin Living, REALTORS®. Affiliates - Fine Austin Living, REALTORS®'s real estate web site affiliates. Monthly Payments & Schedule - Monthly loan payments java mortgage calculator. How Much Can You Afford? - Calculate how much home you can afford with this financial calculator. Determine Tax Savings - Calculate how much your monthly Austin, Westlake Hills and Lake Travis, Texas mortgage payments save you on your taxes because of loan interest. Should You Rent or Buy? - Is it better to rent a home in Texas or buy your own Austin, Westlake Hills and Lake Travis house, ranch, luxury property, condominium, acreage, or other real estate? Adjustable Rate Mortgages - Adjustable rate Austin, Westlake Hills and Lake Travis mortgages information and interest rate java calculator. What Is Your APR? - Determine the Annual Percentage Rate (APR) for your mortgage. Fixed or Adjustable Rate Mortgage? - Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. Are Balloon Mortgages For You? - Balloon mortgage calculator. A balloon mortgage can be an excellent option for many home buyers. 15 vs. 30 Yr Mortgages - With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms. How Much Should Your Income Be? - What income is required to qualify for a mortgage? Use this calculator to find out. What's Your Maximum Mortgage? - This calculator will help you determine your maximum monthly housing payment and the resulting mortgage amount. Will Buying Points Save You Money? - This calculator helps you determine if you should pay for points, or use the money to increase your down payment. TripleCalc - FREE Software Download: TripleCalc lets you compare three loans at one time for your property or other Texas real estate. Top National Real Estate Web Sites - Real Estate Web Sites that include some unique sources of realty information, listings, and more. Ask Anything - Ask Fine Austin Living, REALTORS® anything real estate. NUMBER1EXPERTS™ - List of all the NUMBER1EXPERT™ real estate agentss and realty professionals and brokers in the USA and Canada with links to their personal web sites with homes for sale. Real Estate Tips - Fine Austin Living, REALTORS®'s realty library of real estate tips and advice on everything from preparing your home for sale to negotiating with home buyers to escrow, closing costs, property inspections, and mortgage brokers. Real Estate Trivia - Fine Austin Living, REALTORS®'s collection of real estate trivia questions and answers that include real estate topics such as the most expensive home, largest swimming pool, and more. Real Estate Dictionary - Complete real estate dictionary and glossary of realty words you'll use when you list and sell your Austin, Westlake Hills and Lake Travis property in Texas, including legal terms definitions, and more. Go to Main Sitemap - Main sitemap sections include Find Austin, Westlake Hills and Lake Travis Homes, For Home Buyers, For Home Sellers, Austin, Westlake Hills and Lake Travis Information, Real Estate Resources, and About Fine Austin Living, REALTORS®. 
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First Time Buyers >The Real Bottom Line
An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!
The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.
When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.
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Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
 See More Real Estate Trivia > |
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