Financial Calculators – Home and Mortgage

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Calculators > Home and Mortgage

15 vs. 30-Year Mortgage

Determining which mortgage term is right for you can be a challenge. With a shorter 15-year mortgage, you will pay significantly less interest than a 30-year mortgage – but only if you can afford the higher monthly payment. Use this calculator for a comparison of a 15 vs. 30-year mortgage. 

20 vs. 30 Year Mortgage

Determining which mortgage term is right for you can be a challenge. With a shorter 20 year mortgage, you will pay significantly less interest than a 30 year mortgage – but only if you can afford the higher monthly payment. Use this calculator for a comparison of a 20 vs. 30 year mortgage. 

Adjustable Rate Mortgage Calculator

Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be. 

APR Calculator for Adjustable Rate Mortgages

Use this calculator to determine the Annual Percentage Rate (APR) of your Adjustable Rate Mortgage (ARM). Knowing your APR can help you compare different ARMs with different fees and terms. 

APR Mortgage Calculator

Use this calculator to determine the Annual Percentage Rate (APR) for your mortgage. Press the report button for a full amortization schedule, either by year or by month. 

ARM & Interest Only ARM vs. Fixed Rate Mortgage

Use this calculator to compare a fixed-rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. A fixed-rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. 

ARM vs. Fixed-Rate Mortgage

A fixed rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. Use this calculator to compare a fixed rate mortgage to a Fully Amortizing ARM. 

Balloon Mortgage Calculator

A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates. 

Biweekly Mortgage Calculator

This calculator shows you possible savings by using an accelerated biweekly mortgage payment. Biweekly payments accelerate your mortgage payoff by paying 1/2 of your normal monthly payment every two weeks. By the end of each year, you will have paid the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest. Click on the “View Report” button to see your savings! 

Biweekly Mortgage Payment Calculator for an Existing Mortgage

This calculator shows you possible savings by using an accelerated biweekly mortgage payment. By paying 1/2 your monthly payment every two weeks, each year your mortgage company will receive the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest. 

Blended Rate Mortgage Calculator

The high price of homes has many buyers trying to get 100% or near 100% financing. One option is to acquire two mortgages. This calculator helps you determine the effective, or blended, interest rate you would pay if you use a first and a second mortgage to finance the purchase of your home. 

Combination Mortgage Calculator

Use this calculator to compare a single traditional fixed rate mortgage with combination financing. Combination financing consists of a first and second mortgage that can help you avoid Private Mortgage Insurance (PMI) payments and may lower your total monthly payment. 

FHA Loan Calculator

Use this calculator to determine your FHA loan amount and how much cash needed for to complete the home purchase. It will also create an estimate of your closing costs and required upfront Mortgage Insurance Premium (MIP). This calculator is designed to determine the FHA mortgage limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfm at the HUD.gov. Then use the calculator below to determine the required down payment, FHA mortgage limit and required upfront Mortgage Insurance Premium (MIP). 

Fixed Rate Mortgage vs. Interest Only Mortgage

A fixed rate mortgage has the same payment for the entire term of the loan. Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage. 

Fixed Rate Mortgage vs. LIBOR ARM

A fixed rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. LIBOR, which stands for the London InterBank Offered Rate, is an index set by a group of London based banks, and sometimes used as a base for U.S. adjustable rate mortgages. This calculator compares a fixed rate mortgage to a LIBOR ARM. 

Fixed-Rate Mortgage Calculator

Discover how changing the different variables on a fixed-rate mortgage can affect your monthly payment and schedule, and see what impact making ‘prepayments’ has on your outstanding balance (a prepayment is an additional amount paid toward the principal balance of your mortgage before it’s officially due). Click the “View Report” button for your results. 

Home Closing Cost Calculator

Use this calculator to help estimate the total closing cost to purchase a home. This is an estimate of how much you will need on the day your home purchase is made. Please remember that this is an estimate, the actual fees and expenses may change depending on a variety of factors including the actual closing date. Below is a summary of the inputs and calculations used to create this estimate. 

Should I Rent Or Buy A Home?

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. The Home Rent vs. Buy calculator helps you weed through the fees, taxes and monthly payments to help you make a decision between these two options. This report is based on the original purchase price, fees and taxes payable at that time. Insurance and tax costs can fluctuate from year to year. Click the “View Report” button for a detailed look at the results. 

Interest Only ARM Calculator

Interest only mortgages can provide you with very low monthly payments, however you are not paying off any principal during the interest only period. Use this calculator to examine an interest only mortgage. 

Interest Only Mortgage Calculator

Use this calculator to generate an amortization schedule for an interest only mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments. Press the “View Report” button for a full yearly or monthly amortization schedule. 

Maximum Mortgage Calculator

What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount. 

Mortgage Calculator

Use this mortgage calculator to determine your monthly payment and generate an estimated amortization schedule. Quickly see how much interest you could pay and your estimated principal balances. Enter prepayment amounts to calculate their impact on your mortgage. 

Mortgage Calculator with PMI

Use this mortgage calculator to determine your monthly payment with Private Mortgage Insurance (PMI). It can also to generate an estimated amortization schedule for your mortgage. You can also calculate your interest, principal balances and prepayments. 

Mortgage Calculator with Taxes and Insurance

Use this calculator to generate an estimated amortization schedule for your current mortgage. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments! Press the ‘Report’ button for a full yearly or monthly amortization schedule. 

Mortgage Debt Consolidation Calculator

This calculator is designed to help determine whether using a mortgage debt consolidation is right for you. Enter your credit cards, installment loans and the mortgages you wish to consolidate by clicking on the “Enter Data” button for each category. Then change the consolidated mortgage loan amount, term or rate to create a loan that will work within your budget. 

Mortgage Payoff Calculator

How much interest can you save by increasing your mortgage payment? The mortgage payoff calculator helps you find out. Click the “View Report” button to see a complete amortization payment schedule and how much you can save on your mortgage. 

Mortgage Points Calculator

Should you buy points? Use the mortgage points calculator to see how buying points can reduce your interest rate, which in turn reduces your monthly payment. But each “point” will cost you 1% of your mortgage balance. The mortgage points calculator helps you determine if you should pay for points, or use the money to increase your down payment. Click on the “View Report” button to review your information. 

Mortgage Qualifier Calculator

The first step in buying a house is determining your budget. The mortgage qualifier calculator steps you through the process of finding out how much you can borrow. You can calculate your mortgage qualification based on income, purchase price or total monthly payment. 

Mortgage Refinance Calculator

How long will it take to break even on a mortgage refinance? Use the mortgage refinance calculator to sort through a multitude of factors including your current interest rate, the new potential rate, closing costs and how long you plan to stay in your home. The mortgage refinance calculator helps sort through the confusion and determine if refinancing your mortgage is a sound financial decision. 

Mortgage Required Income

What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount. 

Mortgage Tax Savings Calculator

Use the mortgage tax savings calculator to determine how much your mortgage payments could reduce your income taxes. The interest paid on a mortgage, along with any points paid at closing, are tax-deductible if you itemize on your tax return. Use this calculator to see how this deduction can create a significant tax savings. 

Option ARM Calculator

Use the Option ARM Calculator to compare a fixed rate mortgage to an Option ARM. A fixed rate mortgage has the same payment for the entire term of the loan. The Option ARM uses a low initial rate to calculate your initial minimum monthly payment. Although the interest rate will increase after 1 to 3 months, your low payment will remain fixed for the entire year. This can produce a much lower monthly payment than a traditional fixed rate mortgage, or even an adjustable rate mortgage (ARM). 

Reverse Mortgage Calculator

Use the reverse mortgage calculator to help determine the balance of a reverse mortgage. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time. 

Seller Closing Cost Calculator

Use seller closing cost calculator calculator to help estimate your closing costs and net proceeds from the sale of a home. You will need to know your closing date, sale price and information about your mortgages and other payments. Please remember that this is an estimate, the actual fees, expenses and final mortgage balances may change depending on a variety of factors including the actual closing date. 

Should I Refinance Calculator

How much interest can you save if you refinance your mortgage? The Should I Refinance Calculator helps you find out. Enter the specifics about your current mortgage, along with your current appraised value, new loan term, rate and closing costs. The calculator will determine how much interest refinancing can save you and if you should refinance your mortgage. In addition, it will calculate the number of months to break even on closing costs with your reduced monthly payment.