Mortgage Calculators

Refinance calculator

Will you save by refinancing your mortgage?  Calculate your payment.  Are you looking to crunch some numbers? We'll help. These are one of the most complete sets of financial calculators on the Web. Calculate your monthly mortgage payment.

Mortgage tax deduction

Interest paid on a mortgage is tax deductible if itemized on the tax return. So are points that are paid to lower the interest rate. Use this mortgage tax deduction calculator to determine how much you could save in income taxes.

ARM vs. fixed-rate loan

Calculate which mortgage is right for you.  Use this ARM or fixed-rate calculator to determine whether a fixed-rate mortgage or an adjustable rate mortgage, or ARM, will be better for you when buying a home. The calculator also compares a fully amortizing or interest-only ARMs.

Balloon mortgage

Calculate balloon mortgage payments.  A balloon mortgage can be an excellent option for many homebuyers. A balloon mortgage is usually rather short, with a term of 5 years to 7 years, but the payment is based on a term of 30 years. They often have a lower interest rate, and it 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. Use this balloon mortgage calculator to view the change in principal over the life of the mortgage. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.

Interest-only ARM

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

Maximum mortgage

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

Figure mortgage APR

Mortgage annual percentage rate calculator.  Use this annual percentage rate calculator to determine the annual percentage rate, APR, for your mortgage.

15- vs. 30-year mortgage

Determining which mortgage term is right can be a challenge. With a 15-year mortgage less interest is paid, but only with a higher monthly payment. Use this 15-year vs. 30-year mortgage calculator to compare these two mortgage terms.

Home debt consolidation

This mortgage debt consolidation calculator is designed to help determine whether using a mortgage to consolidate debt is right for you. Enter credit card balances, installment loans and the mortgages 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 the budget.

Mortgage loan calculator

Use this mortgage loan calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest will be paid and how much principal balance will be paid. Determine the impact of any principal prepayments.

Mortgage payoff calculator

How much interest can be saved by increasing the mortgage payment? This mortgage payoff calculator helps you find out.

Mortgage points calculator

Buying mortgage points when you close can reduce the interest rate, which in turn reduces the monthly payment. But each point will cost 1% of your mortgage balance. This mortgage points calculator helps determine if you should pay for points, or use the money to increase the down payment.

How much can I borrow?

The first step in buying a house is determining your budget. This mortgage calculator will show how much you can afford.

Income required for loan

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

Option ARM vs. fixed-rate

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).

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Last modified: 12/14/08