Using a Sell and Stay Calculator
The determinations you make with your home will alter your finances and your lifestyle. If you are looking at changes for your property because of your current mortgage, then you can use a sell and stay calculator. This can provide you with insight based on whether you should make a different move. Understanding what to calculate will provide you with insight on how to change your financial situation and lifestyle.
The first type of information you need to look up with a sell and stay calculator is the amount you receive for a sale. You will want to look at the calculations of the market value of your property. You should consider that this will differ when you sell as is, potentially lowering what you would make on the property. Comparing this to a traditional sale can help you to find the lump sum and base price that you can receive for a short sale.
After determining the amount you receive with a property, you will want to add in the conditions of staying in the home. You can expect to pay market value of the rent or lease program after you stay. However, this often differs from the amount you are required to pay for the mortgage you currently have. You will want to look at rental prices that most pay in your area as well as how this will impact your monthly budget.
When looking at the sell and stay calculator, you can also look at comparisons to other concepts in the market. For instance, you can look at the difference between selling and moving into another mortgage. You can also look at how the pricing will fluctuate based on the year you are in the home and the changes in the market. You will want to look at the calculations based on your current needs in financing as well as your future plans.
Change the conditions of your mortgage by altering the financial situation you have. Using a sell and stay calculator can help you to find a different solution for your budget and property. Looking at the short term and long term differences with a sell and stay solution will also provide you with differences in the outcome of your home and finances.