MORTGAGE CALCULATORS are an easy way to ponder your desires as a borrower at your leasure before taking the time to consult a professional to get your loan.
At this site we offer three types of mortgage calculators:
The refinance calculator is our most popular and it has the ability to estimate whether or not now is a good time for you to refinance based upon a new rate of interest and how long you plan to stay in your home. A break-even date is calculated and explained in plain english.
Our mortgage payment calculator does the traditional calculation of your estimated monthly payments for a fixed rate of interest. An amortization table is generated showing a breakdown of the interest and principal paid with each months payment.
The mortgage payment calculator also has the ability to factor in extra monthly payments. These payments help you pay down your loan faster, and if made consistently, can have a dramatic impact on your total interest paid over the life of the loan.
Finally, the debt consolidation calculator creates estimates of monthly payments for debt consolidated from almost any number of sources including: student loan debt, medical bills, IRS payments etc. Additionally the calculator allows you to factor in "cash out." This cash is made available to you at the time of the debt consolidation and it lumped in with your other debt.
Common Mortgage Calculator Questions:
1. What is my Interest Rate?
Our mortgage calculators assume an estimated mortgage rate. Until you speak with a lending professional this figure is nothing more than a guess. Once you have received multiple quotes from a few different lenders you can input the rates they give you and compare differences in the loans with the calculators.2. How accurate are the calculations?
The calculations are based on industry standard forumlas and provide reasonable estimates. It is important that with all of our calculators you remember that they are only estimates and not quotes. For a quote please fill out our online application.3. Do you provide any other calculators?
As of now we only provide the three types of calculator described on this page, mortgage payment, refinance, and debt consolidation. If you would like to see a different calculator on our site, email us and let us know.