Quick Mortgage Calculator Highlights

Which is Better: Fixed or Adjustable-Rate Mortgage Calculator

It is a difficult decision to decide between a fixed and an adjustable-rate mortgage. Factors such as loan duration, the index used by the lender, the number and timing of rate adjustments, and your assumption about the increase/decrease of future interest rates all have an impact.  Use this calculator to help compare the total cost of each alternative.

How Much Home Can I Afford, Affordability Calculator

When you’re buying a home, mortgage lenders don’t look just at your income, assets, and the down payment you have.  They bank or lender will look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating.  Apply this mortgage calculator to determine how much of a mortgage you may be able to obtain.

Should I Refinance My Home Mortgage Calculator

Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages.  Even when rates creep up, refinancing may make sense for many borrowers.  Draw on the information produced by the mortgage calculators for refinancing to analyze your financial condition.

Comprehensive Mortgage Calculator

The loan amount, the interest rate, and the term of the mortgage can have a dramatic effect on the total amount a homeowner will eventually pay for their property.  Furthermore, mortgage payments typically will include monthly allotments of property taxes, hazard insurance, and private mortgage insurance, if applicable.  The impact of these variables can be weighed in detail with this mortgage calculator along with the production of an amortization schedule.

Comparing Mortgage Terms Mortgage Calculator

Different mortgage terms and rates can make the loan selection process confusing, especially if you don’t plan on keeping the loan for the full term.  Make use of this mortgage calculator to determine the total cost of various mortgage alternatives, taking into account the different terms and rates of more than one home loan.

Should I Pay Discount Points for a Lower Interest Rate Mortgage Calculator

In some cases, it may benefit a borrower to pay additional money up front in the form of discount points in order to buy down the interest rate on a home mortgage.  This mortgage calculator can be brought into play to help determine if paying points makes sense for any particular home loan request.  The trade off between the interest rate and points paid is not an easy comparison or one that is constant from lender to lender.  This calculator is essential to compare the interest rates and points charged when shopping for a mortgage.

Should I Rent or Buy a Home Mortgage Calculator

The decision to rent versus buying a home is more than just a question of loan qualifications.  The decision involves numerous factors such as interest rates, tax rates, rental prices, home loan amounts and the specific attributes of the loan requested.  Judge the implementation of this calculator to help determine which form of housing makes sense, rent or homeownership, at this time for any borrower.
 
Should I Convert to a Bi-Weekly Payment Schedule Mortgage Calculator

There are a variety of methods a home loan borrower can employ to accelerate the payoff on their mortgage.  Bi-weekly mortgage payments are generally the most common tool taken advantage of to reduce the principal balance on a loan rapidly.  This strategy is implemented by dividing the monthly mortgage payment in half and paying it every other week, resulting in an extra payment being applied towards principal each year.  The biweekly mortgage calculator helps to visualize the impact and evaluate the alternatives for increased principal reduction on a home loan.

Compare a No Cost Mortgage versus a Traditional Mortgage Calculator

Many lenders now offer a no closing cost mortgage loan as an alternative to a traditional mortgage in which the borrower pays the closing costs.   No cost loans are generally priced at a higher interest rate than a traditional mortgage.  The higher rate allows the lender to make enough money on the interest rate spread over the traditional loan to pay for all the borrowers closing costs and still afford a profit for that mortgage company.  Make the most of this calculator to help determine if a no cost loan from the lender or bank is a superior option over the traditional mortgage.

What Are the Tax Savings Generated By My Mortgage Calculator

Mortgage payments and homeownership provide several tax savings advantages over renting.  With the interest on a mortgage being deductible as well as point and real estate taxes, the savings are fairly apparent.   The benefit from this mortgage calculator is to determine the potential tax savings with a mortgage and compare this to rental payments.

Adjustable Rate Mortgage Calculator

Adjustable arte mortgages, unlike fixed rate mortgages, have payments that will vary as interest rates change.  The adjustable rate mortgage calculator is set up to test loan assumptions regarding different interest rates at the onset of the home loan, interest rates changes, payment changes and term differences.   The mortgage calculator displays how these variables will impact the monthly payments and the total interest paid over the life of the loan.

How Do Closing Costs Impact the Interest Rate, Mortgage Calculator

Closing costs directly impact the interest rate and total costs in obtaining a home loan. The annual percentage rates (APR) is a standardized calculation takes into account the closing costs on a mortgage loan.   The closing costs comparison mortgage calculator can help borrowers compare loans with varying interest rates and closing costs.  This calculator can be manipulated to itemize the closing costs and to compare loans with different rates, fees or terms.

Compare an Interest-Only Versus Traditional Mortgage Calculator

An interest-only mortgage may be enticing due to lower initial payments compared to a traditional mortgage.  However, when the interest-only loan begins to amortize after 5, 10 or 20 years then the monthly payments will be higher since the monthly mortgage payments must include the interest and principal payments to amortize the loan in the remaining time left.  Take advantage of this calculator to determine the monthly payments, payment options and total interest paid with each loan.

What Would My Loan Payments Be Mortgage Calculator

The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount a borrower will ultimately pay on a loan.  With this mortgage calculator a borrower can calculate the payment and see the impact of these variables on a specified loan amount and generate an amortization schedule to illustrate the monthly mortgage payments.

This entry was posted on Thursday, December 11th, 2008 at 9:06 pm and is filed under Mortgage Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.