Mortgage Calculators and Advice
Your mortgage is likely the biggest and most important loan you'll ever get. Understanding it can potentially save you hundreds of thousands of dollars. Do you know the difference between a fixed and adjustable rate mortgage? Which should you get? How much can you save by making bi-weekly rather than monthly payments? If you already have a mortgage, should you refinance? You'll find all the answers to your mortgage questions here, along with free calculators to help determine exactly what you should do.
If you're not already familiar with mortgages, you should start with our article on components of a mortgage, where you'll learn about the different types of loans and the pros and cons of each. Then, use the calculators below to get the numbers you need to make your decisions.
Monthly Payment Calculators
Mortgage Calculator (Fixed Rate)Adjustable Rate Mortgage (ARM) Calculator
ARM vs Fixed Rate Mortgage Calculator
Mortgage Term Calculators
Mortgage Term Comparison CalculatorAffordability Calculators
New Home CalculatorHome Value for Current Rental Payment
Refinancing and Savings Calculators
Mortgage Refinancing CalculatorBi Weekly Savings Calculator
Mortgage Tax Savings Calculator
Mortgage Calculator Tips
Our calculators are here to help you save and make money, and will provide all the detailed information you need. Make sure to pay attention not only to your monthly payment, but also the term, interest rate, and how much interest you'll end up paying over time. Remember for example that a shorter term means you'll pay off your loan faster, but you'll also have higher monthly payments. Even though you'd own your home sooner, would you be better off making those higher payments, or having a longer mortgage term with lower monthly payments, where you can invest the extra money?
This question depends on how much you can earn on that extra money you'd invest, and if you'd actually have the discipline to invest it! If the APR on your mortgage is 4%, but you can make 8% by investing your money, you'd be better off taking the longer term and using the money left over from lower monthly payments to invest. You can use our Invest or Payoff Debt Calculator to see how this applies to your specific situation.
To get the most out of this site, use these mortgage calculators in conjunction with the investment, credit card, and debt management calculators to look at the big picture. Having a unified, realistic, and sound strategy is the key to financial success.
What You Should Know
Components of a MortgageFixed vs. Adjustable Rate Mortgages
Mortgage Refinancing
Increase Your Payments for Guaranteed Returns
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