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Mortgage Calculator



Mortgage calculators are pivotal factors when you’re looking for the right mortgage that best suits your home buying needs. Below is a short list of mortgage calculators to help you make your financial decision.

APR Mortgage Calculator
An APR mortgage calculator helps you calculate and compare the APRs or Annual Percentage Rates of different types of mortgage loans. To use an APR mortgage calculator, you need to fill in the loan amount and the quoted interest rate. Say for example, you take in a 30-year loan for $20,000 at 4.5% interest rate. Percentage of discount points is 2.0% with a closing fee of $1,000. When you calculate this using the APR mortgage calculator, you’ll find that the annual interest rate of this loan is 5.5275%.

ARM vs. Fixed Mortgage Calculator

Different financial situations require different types of mortgage. An adjustable rate mortgage is good when the loan term that you want is short. On the other hand, fixed rate mortgages might give you the certainty that you need when it looks like interest rates are rising. Use ARM vs. fixed rate mortgage calculators to find out which mortgage suits you. An ARM vs. fixed rate mortgage calculator would require you to fill in the details both mortgages. Once done, the mortgage calculator will help you determine how much you can save with either mortgage types.

For example, you decide to take out a loan of $105,000 payable in 30 years. The fixed rate mortgage interest rate is 7.5% while the ARM interest rate is 4% with an adjustable period of one year. Maximum cap period of the ARM loan is 0.5% while the lifetime cap is 4%. Once you put in these details into the mortgage calculator, you can start estimating your savings on each mortgage. The mortgage calculator will show you that with a fixed rate loan, you will be paying $734.18 monthly and no savings. On the one hand, the mortgage calculator will also show you that ARM loan will have you paying up to $663.67 monthly with cumulative savings up to $11,024.46.
"When money is taken freedom is forsaken.”
- Proverb
 
Comparison Mortgage Calculators

As the name itself suggests, this mortgage calculator allows you to compare several mortgage types and find out what suits you best. You can put in variables to as much as four loans into this mortgage calculator and start comparing prices. By providing the number of payments to be made, interest rates, and principal amount, this mortgage calculator will calculate for you the projected monthly payment.

30 Year and 15 Year Mortgage Calculator

This mortgage calculator will help you decide which mortgage suits your needs – 30 year or a 15 year term. For instance, you’re considering a $100,000 loan. For 15 years, the interest rate is 6.250%. For a 30-year term, the interest will increase slightly to 6.500%. Discount points for each are equal at 1%.

For more accurate results on this mortgage calculator, let’s put in a state/federal tax rate of 38%, property tax amount of $2,000, homeowner’s insurance of $600, and savings rate of 4%. The purchase price of the home is $125,000. The result generated by the mortgage calculator will be a total payment of $1,074 for the 15-year term and $849 for the 30-year term.

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Mortgage rates higher for Tuesday - Bankrate.com

Bankrate.com

Mortgage rates higher for Tuesday
Bankrate.com
The average 30-year fixed-mortgage rate is 4.47 percent, an increase of 11 basis points over the last seven days. A month ago, the average rate on a 30-year fixed mortgage was lower, at 4.33 percent. At the current average rate, you'll pay $504.90 per ...
Two-year mortgage rate at 21-month highmoneyfacts.co.uk

all 18 news articles »

Mortgage rates trend higher for Friday - Bankrate.com - Bankrate.com

Bankrate.com

Mortgage rates trend higher for Friday - Bankrate.com
Bankrate.com
Several closely watched mortgage rates cruised higher today. If you're in the market for a home loan, see how your finances could be affected.

and more »

Mortgage rates move upward for Tuesday - Bankrate.com

Bankrate.com

Mortgage rates move upward for Tuesday
Bankrate.com
The average rate for the benchmark 30-year fixed mortgage is 4.36 percent, up 6 basis points over the last seven days. A month ago, the average rate on a 30-year fixed mortgage was lower, at 4.33 percent. At the current average rate, you'll pay a ...


Tax Reform Halves Those That Qualify for Mortgage Interest Deduction - Investopedia (blog)

Investopedia (blog)

Tax Reform Halves Those That Qualify for Mortgage Interest Deduction
Investopedia (blog)
CNBC noted that the mortgage interest deduction already hadn't been popular with many homeowners, with just 20% of the 150 million tax returns that the Internal Revenue Service receives each year using the deduction. CNBC cited the Urban Brookings Tax ...

and more »

Mortgage rates increase for Monday - Bankrate.com

Bankrate.com

Mortgage rates increase for Monday
Bankrate.com
The average rate you'll pay for a 30-year fixed mortgage is 4.35 percent, an increase of 6 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was lower, at 4.30 percent. At the current average rate, you'll pay ...


Mortgage rates increase for Wednesday - Bankrate.com

Bankrate.com

Mortgage rates increase for Wednesday
Bankrate.com
The average rate for the benchmark 30-year fixed mortgage is 4.30 percent, up 3 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was higher, at 4.31 percent. At the current average rate, you'll pay a combined ...

and more »

Mortgage rates move up for Friday - Bankrate.com

Bankrate.com

Mortgage rates move up for Friday
Bankrate.com
The average 30-year fixed-mortgage rate is 4.29 percent, up 2 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was higher, at 4.36 percent. At the current average rate, you'll pay principal and interest of $494 ...


Mortgage rates ease for Wednesday - Bankrate.com

Bankrate.com

Mortgage rates ease for Wednesday
Bankrate.com
The average rate for a 30-year fixed mortgage is 4.27 percent, down 3 basis points over the last seven days. A month ago, the average rate on a 30-year fixed mortgage was higher, at 4.35 percent. At the current average rate, you'll pay principal and ...

and more »

5 Tips for Finding the Best VA Mortgage Lenders - NerdWallet (blog)

5 Tips for Finding the Best VA Mortgage Lenders
NerdWallet (blog)
Lenders take the foundation of VA-backed loan standards and add requirements of their own. That includes important things like minimum credit scores, debt-to-income ratios, and interest rates. Compare VA mortgage rates. Although the VA doesn't have a ...


Refinance mortgage rates mixed for Tuesday - Bankrate.com

Bankrate.com

Refinance mortgage rates mixed for Tuesday
Bankrate.com
... 30-year fixed-refinance rate is 4.25 percent, unchanged over the last seven days. A month ago, the average rate on a 30-year fixed refinance was higher, at 4.31 percent. At the current average rate, you'll pay $491.94 per month in principal and ...

and more »

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