Thinking about buying a home in NYC, but have a strict monthly budget you need to stick to? You’re in luck!
Triplemint’s innovative website has a cool new feature that lets you calculate how much your total monthly payment will be including the mortgage cost and monthly charges. This calculation is based on the current price of a listing, your down payment, interest rate, and loan term. Let’s take a closer look at the tool…
As you can see above, all you have to do is input your estimated down payment, interest rate, and loan term. From there, our system will do its thing and tell you what your total monthly payment will be. It’s that simple!
Why is this beneficial for buyers?
So, how does this tool make a difference when searching for an apartment in New York City? Well first off, the feature allows buyers to truly understand what their purchasing power is. This is crucial during the search process and can help buyers save time by not visiting listings that are over budget.
In addition, the mortgage calculator will let you know if the amount of money you’re putting down is enough to get your monthly payment to where it needs to be. If not, you may want to consider putting a bit more money down upfront in order to lower the cost per month.
“My client said that the reason she contacted Triplemint to help find her NYC apartment was because of the monthly cost calculator. No other brokerage offers it, and it makes the search process much more straightforward,” said Arielle Carraha, Licensed Real Estate Salesperson at Triplemint.
According to Triplemint CEO David Walker, “we asked 10 of our most experienced agents what type of feature would be most beneficial to their clients, and created this insightful tool in conjunction with our engineering and data science teams.”
Overall, Triplemint’s goal is to create a better real estate experience for buyers, sellers, and renters, and this tool is just one of the many ways in which we are achieving that goal.