|
|
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.
 |
"The small landholders are the most precious part of a state."
- Thomas Jefferson
|
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.
 |
|
Additional Resources and Latest News:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
Bankrate.com |
Mortgage rates decrease for WednesdayBankrate.comAt the current average rate, you'll pay a combined $502.53 per month in principal and interest for every $100,000 you borrow. That's down $3.56 from what it would have been last week. You can use Bankrate's mortgage calculator to estimate your monthly ... |
Bankrate.com |
Mortgage rates taper off for TuesdayBankrate.comAt the current average rate, you'll pay principal and interest of $503.72 for every $100,000 you borrow. That's $2.37 lower, compared with last week. You can use Bankrate's mortgage calculator to estimate your monthly payments and see the effect of ...and more » |
TheStreet.com |
How to Find the Best Mortgage CalculatorTheStreet.comThat's where a handy home mortgage calculator can help. The best mortgage calculators offer some great, upfront mortgage loan help, including calculations on down payments, interest rates, payoff timetables, and even data on closing costs and fees.and more » |
Bankrate.com |
Mortgage rates rise for WednesdayBankrate.comThat's up $4.15 from what it would have been last week. You can use Bankrate's mortgage calculator to figure out your monthly payments and see how much you'll save by adding extra payments. It will also help you calculate how much interest you'll pay ... |
Bankrate.com |
Mortgage rates move lower for TuesdayBankrate.comYou can use Bankrate's mortgage calculator to get a handle on what your monthly payments would be and see what the effects of making extra payments would be. It will also help you calculate how much interest you'll pay over the life of the loan. |
Bankrate.com |
Mortgage rates taper off for FridayBankrate.comAt the current average rate, you'll pay $498.40 per month in principal and interest for every $100,000 you borrow. That's down $5.32 from what it would have been last week. You can use Bankrate's mortgage calculator to figure out your monthly payments ...and more » |
Bankrate.com |
Refinance rates rise for SaturdayBankrate.comAt the current average rate, you'll pay $503.13 per month in principal and interest for every $100,000 you borrow. Compared with last week, that's $0.60 higher. You can use Bankrate's mortgage calculator to get a handle on what your monthly payments ... |
Bankrate.com |
Mortgage rates taper off for WednesdayBankrate.comYou can use Bankrate's mortgage calculator to get a handle on what your monthly payments would be and see how much you'll save by adding extra payments. It will also help you calculate how much interest you'll pay over the life of the loan.and more » |
Bankrate.com |
Refinance rates drop for SaturdayBankrate.comAt the current average rate, you'll pay $501.35 per month in principal and interest for every $100,000 you borrow. That's lower by $7.12 than it would have been last week. You can use Bankrate's mortgage calculator to figure out your monthly payments ... |
Google News
|
|
