HOME & MORTGAGE CALCULATORS
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When you're buying a home, mortgage lenders don't look just at your income, assets, and the down payment you have. They 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.
Adjustable Rate Mortgage Calculator
Unlike fixed rate mortgages, the payments on an adjustable rate mortgage will vary as interest rates change.
Restructuring Debts for Accelerated Payoff
Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Even though rates have crept up over the last couple of months, refinancing may make sense for you.
Comprehensive Mortgage Calculator
The loan amount, the interest rate, and the term of the mortgage can have a dramatic effect on the total amount you will eventually pay for the property. Further, mortgage payments typically will include monthly allocations of property taxes, hazard insurance, and (if applicable) private mortgage insurance (PMI).
Comparing Mortgage Terms (i.e. 15, 20, 30 Year)
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.
With interest rates near 40-year lows, the decision to rent versus buy becomes difficult.
Compare a 'No-Cost' Versus Traditional Mortgage
Many lenders will offer a 'no-cost' loan in lieu of a traditional mortgage. '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 from the underwriter to pay for all your closing costs and provide them with their profit.
What Are the Tax Savings Generated by My Mortgage?
With the interest on a mortgage being deductible when you itemize deductions, it may surprise you how much you can save in taxes.
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