Key Mortgage Guides and Calculators
For many of us, getting a mortgage is the biggest financial undertaking we'll ever get. That being said, it's not too difficult to learn the ins and outs of home loans and find the best option for your needs. Below, you can find our essential mortgage guides to learn the ropes and key calculators to understand how much you can take on, how much you will pay, and for how long.
Mortagage Calculators
Want to dive into the numbers further to get more perspective? We have a diverse set of mortgage calculators – learn how much tax you will be paying, your biweekly payments on your loan, whether you qualify for HELOC, and much more here.
We have over twenty different online mortgage calculators for you to choose from. We've taken our calculators and placed them into categories that follow you from the basics of comparing mortgages, to calculations you might want to perform on an existing mortgage, through specialty mortgages. Our calculators can also help individuals having trouble making their monthly mortgage payments.
October 4th, 2023
You paid off your credit cards, student loans, your car. You saved up a solid emergency fund and now you're investing 15% for your retirement. Holy crap, you're rocking it!!
December 16th, 2024
A balloon mortgage may be a good option for many potential homeowners. The term of a balloon mortgage is usually rather short, from 1 to 10 years. The payments for this type of mortgage, however, are based on a term of 30 years. Balloon mortgages often carry a lower interest rate, and are often easier to qualify for than a traditional 30 year fixed rate mortgage. This benefit comes with a risk. At the end of the balloon's term, you need to pay off the outstanding balance of the loan.
October 4th, 2023
With the growing popularity of second mortgages to finance home improvements, we're offering you the chance to use our blended rate mortgage calculator to figure out the blended interest rate on a combined financing arrangement. The calculator not only provides the blended interest rate, but the monthly payment amount for each loan, and the blended mortgage payment.
October 4th, 2023
This HELOC calculator helps you to understand the payment patterns associated with a home equity line of credit. The calculator begins by asking the user to supply variables such as the current HELOC balance, interest rate on the loan, draw and repayment periods. Using this information, the calculator then provides values that include the monthly payment, ending loan balance, as well as the repayment amount.
October 4th, 2023
You can use this interest-only mortgage calculator to figure out your monthly payments if you decide to take out an interest-only loan. With an interest-only mortgage, you only pay interest charges. The principal, or balance, of the loan is never reduced. This keeps your monthly payments low, but increases the total interest charges over the life of the mortgage.
October 4th, 2023
You can use this mortgage amortization table calculator to determine your monthly mortgage payments, and the remaining loan balance at the end of each year through the creation of an amortization table for the loan. This calculator only requires three inputs: the total home loan amount, the annual interest rate, and the length of the loan.
October 4th, 2023
You can use this mortgage APR calculator to estimate the effective annual interest rate on a loan. The calculator uses the quoted annual interest rate, in combination with the fees charged, to figure out an effective monthly payment on the loan. Based on that new payment, the APR on the mortgage can be determined.
October 4th, 2023
You can use this mortgage comparison calculator to evaluate the differences between the monthly payments, total payments and total interest charges for 15, 20 and 30 year mortgages. The calculator only requires two types of inputs: The total home loan amount that is borrowed and the interest rate charged for each mortgage term.
October 4th, 2023
You can use this mortgage cost calculator to estimate the cost of the loan in terms of fees and points paid. This calculator leverages the fact the annual percentage rate, or APR, for a loan is determined using all out-of-pocket costs associated with the mortgage. The closer the quoted interest rate is to the APR, the lower the fees and other upfront costs such as points.
December 16th, 2024
You can use this mortgage points calculator to compare a loan with no points versus a loan where you are paying points. The calculator figures out how much you will save off your monthly mortgage by paying points, and how many months it will take to recover the points paid.
October 4th, 2023
You can use this calculator to figure out how much money you need to make to qualify for a mortgage. The calculator provides the user with two annual income values, based on the most common measures that lenders use: The rules of 28 and 36.
October 4th, 2023
One of the nice things about a mortgage is the interest charges are deductible from your federal income taxes. If you want to know just how much you can deduct, then try our mortgage tax deduction calculator. It provides you with the total interest charges / tax deductions as well as the tax benefit over the life of a mortgage. The calculator also provides an amortization table, which provides the tax deduction by year.
October 4th, 2023
This option ARM calculator provides you with a feel for the alternative payment arrangements this type of mortgage has to offer the home buyer. An option ARM is a mortgage where the borrower has the option of making a minimum payment, an interest-only payment, or a fully amortizing payment.
October 4th, 2023
You're out of consumer debt, you've got your emergency fund, you're investing for your retirement, and now you're finally ready to tackle the behemoth - the mother of all debts...the house! Congrats!
December 16th, 2024
Buying a Home: Key Guides
While the biggest cost of buying a home is the home loan, there are many other expenses you should account for – and many more things to know. We have a far-reaching catalog to help you out with your home purchases, covering everything from tips for first-time buyers to how to negotiate prices when selling your old home.