A home may be the most expensive thing you’ll ever buy so you’ve got to understand the numbers—we can help you get the math right! For instance, how will adding 10% to your down payment affect your monthly payments? What about choosing a 15-year vs. a 30-year loan—which will provide a monthly payment you can afford with a rate you like?
Not sure? You’re not alone—you would need a spreadsheet and about 10 cups of coffee to sort through all the math to get the answers you need to make a good decision. Luckily, you don’t have to go anywhere near a spreadsheet if you don’t want to! We’ve developed several automated loan calculators to give you the answers in black and white.
Our loan calculators provide interactive calculations, dynamic graphs and fully customizable reports. Go ahead, try out a few different scenarios!
Use this calculator if you’re considering a new mortgage or have questions about your current mortgage. It will generate an estimated amortization schedule for the life of your loan.
Determining which mortgage term is right for you can be a challenge. With a 15-year mortgage, you will pay significantly less interest, but be prepared for the higher monthly payment. Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
How long will it take to break even on a mortgage refinance? That depends on a multitude of factors. These factors include your current interest rate, the new potential rate, closing costs and how long you plan to stay in your home. Use this calculator to sort through the confusion, and determine if refinancing your mortgage is a sound financial decision. Click the “View Report” button for a detailed look.
Interest paid on a mortgage is tax deductible if you itemize on your tax return. So are points that are paid to lower your interest rate. Use this calculator to determine how much you could save in income taxes. Click on the “View Report” button to view the results in detail.
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 two types of ARMs, a Fully Amortizing ARM and an interest only ARM.
The high price of homes has many buyers trying to get as near to 100% financing as they can get. 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.