Stamford, Greenwich and New Canaan real estate and homes for sale in Connecticut - Phyllis Doonan, REALTOR® Phyllis Doonan REALTOR(r) for Stamford, Greenwich and New Canaan, Connecticut real estate - NUMBER1EXPERT™ Phyllis Doonan NUMBER1EXPERT(tm) for Stamford, Greenwich and New Canaan, Connecticut real estate

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Phyllis Doonan, REALTOR®, real estate agent and broker for Stamford, Greenwich and New Canaan Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)
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Mortgage Calculators: Stamford, Greenwich and New Canaan Connecticut home buying, real estate listings, and homes for sale in Fairfield                      County, CT
Welcome > Resources > Mortgage Calculators > Should You Rent or Buy? ...


The Best Mortgage Calculators On the Web!
 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
 

Should You Rent or Buy?

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision. Click the "View Report" button for a detailed look at the results.

This Financial Calculator requires a Browser with Java Support


Definitions

Price of home
Purchase price of the home you wish to buy.

Cash on hand
Cash you have for the down payment and closing costs.

Interest rate
The current interest rate you can receive on your mortgage.

Term in years
The number of years over which you will repay this loan.

Property tax rate
Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.

Home insurance rate
Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.

Loan origination rate
The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.

Points paid
The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.

Other closing costs
Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.

Total closing costs
Total upfront costs to close your loan. This is the sum of the loan origination fee, amount paid for points and other closing costs.

Total for down payment
Total funds remaining for down payment.

Mortgage amount
Total amount of loan.

Investment return
The rate of return you could receive if you invested your closing costs and down payment instead of purchasing a home.

The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Monthly rent payment
Amount you currently pay for rent per month.

Income tax rate
Your current marginal income tax rate.

Expected inflation rate
Inflation rate used to adjust amounts subject to annual increases. These amounts include rent, insurance and tax payments.

Home appreciates at
Annual appreciation you expect in the home you are purchasing.

Future sales commission
The percent of your home's selling price you expect to pay to a broker or real estate agent when you sell your home.

House payment
Total of principal, interest, taxes and insurance (PITI) paid per month for your home. Insurance includes Principal Mortgage Insurance (PMI) and homeowner's insurance.

Principal payment
Total of principal paid per month on your mortgage.

Tax savings
The value of the tax deduction you receive on your mortgage's interest and home's property taxes. For example, if you have $900 in interest and $100 property taxes per month, the value of the tax deduction would be $280. (At a tax rate of 28%).

Net house payment
Your house payment minus the value of the tax deduction and principal payment.

Net home price
Net selling price of your home after subtracting any sales commissions.

Monthly PI
Monthly principal and interest payment.

Monthly PMI
Monthly cost of Private Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.




Phyllis Doonan, REALTOR®, real estate agent and broker for Stamford, Greenwich and New Canaan Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)

Phyllis Doonan
William Raveis Real Estate

817 Long Ridge Rd.
Stamford CT
06902
Cell: 203-943-0449
Direct: 203-363-7142
Fax: 203-329-4047
PhyllisDoonan@NUMBER1EXPERT.com
phyllisdoonan@earthlink.net
denisedoonan@earthlink.net

Born and raised in Co. Leitrim, Ireland I grew up on a dairy farm and was the youngest of six children. I went to elementary school in a two-room schoolhouse and later cycled six miles to and from high school each day! Life was simple, and my after school activities consisted of helping on the farm with feeding the calves, milking the cows and picking vegetables and turf for the fire. I was very connected to nature at the time! I can remember back to when the first electric light was installed in our house and when my father got his first car- it was a Ford! Both of these events were major milestones in my life and all of my childhood experiences have made me who I am today.

I immigrated to Stamford, CT in May 1968 and have never looked back (other than my yearly visits once or twice a year). When I arrived here, Stamford was not at all like it is today, and communication was completely different. To stay in touch with life back in Ireland I wrote 2-3 letters per week because the phones were a rarity. Stamford was a small industrial city and the average home value was about $25,000, and a direct waterfront could be found for $75,000- $100,000! Too bad I didn’t have money then!

In 1970 I met my husband, Kevin, and we dated for about 3 years, got engaged and on March 10, 1973 we got married. When I got married that was when I got my first taste of real estate by managing 40 garden apartments which consisted of qualifying, leasing and maintaining the entire complex. I got my real estate license in 1976, but decided to stay home with my daughter and be a stay-at-home Mom.

For the last 20 years I have dedicated myself to making the emotions of real estate and the moving process as painless as possible. I pride myself in listing, selling, marketing, negotiating and closing the best deals for my clients. I am established leader in Fairfield County Real Estate. I have been a consistent top producer ranking #1 in both units sold and closed dollar volume for the past 20 years. I believe that real estate is all about family and having built my business by being known as “The Matchmaker” – Matching Homes with Families and Families with Homes, I have proven success. I cover everything from the first-time buyer and renter to luxury homes and waterfronts along with condo and commercial developing. I feel as though my diversity allows me to understand and best suit my clients growing needs. I also believe in a strong work ethic and commitment to clear and effective communication.

Today I live in North Stamford and have 3 children. Denise works full time with me and got married to Henri 3 years ago and they recently had my “pride and joy” Bridget Kate, who is 15 months. Denise graduated from Westhill High School and Fairfield University with a Bachelors of Arts in Economics and minors in Biology and Psychology in 1997. Today she is my office administrator and licensed buyer specialist. We are very fortunate to have an extremely strong friendship that we are able to carry over into the business and a common business ideal based upon top commitment and service to our clients.

My older son, Kevin, is currently a senior at Dickinson College. Kevin is focused on school, ice hockey, water polo, lacrosse and is working on becoming an Emergency Medical Technician. Kevin graduated in 2003 from the Canterbury School in New Milford, CT. My younger son, Eamon, is a senior at the Canterbury School.


William Raveis real estate and homes for sale in Stamford, Greenwich and New Canaan Connecticut

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