![]() To specify the mortgage that you want to work with, select an entry from the "Mortgage Type" dropdown box. This mortgage calculator works with many kinds of mortgages - fourĪdjustable-rate mortgage, as shown in the table below. Should I accept a prepayment penalty in my mortgage Should I lock in my interest rate, or should I let ![]() Should I pay discount points on my mortgage? How can I compare two mortgages objectively? Which mortgage will cost least, over the period that I own What will be the monthly payment for my mortgage? Use it toĪnswer common questions about home loans, such as: This home mortgage calculator is versatile. If the loan is paid off in that payment period. The total loan cost (principal, interest, closing costs, etc.) ![]() The amount required to retire the loan in each payment period.Īdditionally, for each payment period, this amortization table shows Toward principal, how much goes toward interest, and The amortization table shows how much of each mortgage payment goes You to easily generate an amortization table (aka, amortizationĬhart, amortization schedule) for ten types of mortgage. Refinancing savings to pay for refinancing costs. It compares loan duration and cost, with and You to easily assess the costs and benefits of refinancing yourĬurrent mortgage. Option computes monthly mortgage payments for each mortgage. An amortization report allows you to compare totalĬost for each mortgage at any point in time. Shows total cost over the lifetime of each mortgage, with and without Private mortgage insurance, loan duration, etc. This option allows you toĮasily compare two mortgages - interest expense, settlement costs, Mortgage and how much money you can save over the life of your Understand prepayment effects - how much quicker you can pay off your In addition, you get more detail on mortgage cost (e.g.,Ĭlosing costs, points, settlement fees) and you can evaluate theĮffect of tax deductions for points and interest. This option providesĮverything that you get with the monthly mortgage option (describedĪbove). The amount paid and the amount due over the life of the mortgage. Insurance, mortgage insurance, and prepayments) on the monthly payment.Īnd finally, you can create an amortization schedule that tracks Include the effect of other factors (e.g., property tax, hazard Monthly payment (principal and interest). (loan amount, loan term, interest rate), the calculator will report Only interested in the monthly mortgage payment. The mortgage calculator gives you a choice of six different Summary report that clearly presents key findings, based on After you provide the dataĬalculate button. Inputs (mortgage type, interest rate, loan amount, loan term, etc.) Select options - produce an amortization schedule,Īssess the prepayment effects, and compute tax savings. The Mortgage Mavin calculator is accessibleįrom the Mortgage calculator link at the top of every What is the history of mortgage calculators?.What interest rate does the calculator useįinancial terms used by the mortgage calculator?.Instructions: To find the answer to a frequently-asked
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