Equity is simply the value of the home minus any outstanding mortgages against the property.  For example, if a home’s current appraised value is $100,000 and the existing mortgage balance is $70,000, this means that the home owner has $30,000 or 30% equity in the home.  Since many home equity loans are for amounts up

Jumbo mortgage calculators are used to calculate monthly mortgage payments and compare mortgage rates and terms on jumbo mortgages.  Jumbo mortgages are mortgages that have larger loan amounts than standard loan amounts established by Fannie Mae (FNMA) and Freddie Mac (FHLMC). The simple jumbo mortgage loan calculator is established for large loan amounts.  The jumbo mortgage

Loans above the maximum loan amount established by Fannie Mae and Freddie Mac are known as jumbo loans.  Because jumbo mortgages are a smaller market than conforming loan amount markets and are not generally purchased or guaranteed by Fannie Mae or Freddie Mac, they often have a higher interest rate than conforming loans.  As the

Private mortgage insurance is a type of insurance required on some mortgage loans that protects a mortgage lender against loss if a borrower defaults on the loan.  The cost of private mortgage insurance (PMI) is passed on to the borrower and is not paid by the lender.  One of the benefits of a PMI mortgage

The home equity rate calculator calculates what the monthly payment will be on a home equity loan or line of credit based on the equity loan rate.  This mortgage calculator will help determine what the monthly payment will be for either a fixed term equity loan or a line of credit, or even the amount