Online mortgages calculators are one of the best tools that can be used at whatever time you are in the need for some immediate mortgage rate calculations. In whatever position you are in, you can easily locate the precise tools to assist you online. Some of the most famous and accepted online calculators include mortgage calculator mortgage refinance calculator, and mortgage payoff calculator.

An online mortgage calculator gives a proposal of the viability of financing a mortgage. You can know the principle amount of the mortgage, monthly payment method, duration and costs related to the mortgage. You can find the financing loan interest rate and what your monthly payment would be.

This calculator shows you possible savings by using an accelerated bi-weekly mortgage payment. Bi-weekly payments accelerate your mortgage payoff by paying 1/2 of your normal monthly payment every two weeks. By the end of each year, you will have paid the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest.

Use this calculator to determine the maximum FHA mortgage that would be allowed for your home purchase and an estimate of your required downpayment and closing costs. These FHA Mortgage Loan Calculators are used to work out or calculate the amount of monthly payment when you are going to avail mortgage loan. Several factors can be easily analyzed from the use of loan payment calculator. It allows you to replicate potential mortgage situations and perceive if the mortgage plan is truly reasonable. The similar calculator can also be utilized to retrieve the accurate house value that you can manage to pay after purchasing. It is calculated on the basis of the amount of money you assign for equal monthly mortgage payments.

Mortgage Annual Percentage Rate Calculator

Use this calculator to determine the Annual Percentage Rate (APR) for your mortgage. Press the report button for a full amortization schedule, either by year or by month.

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

### Blended Rate Mortgage Calculator

The high price of homes has many buyers trying to get 100% or near 100% financing. 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.

### Fixed Rate Mortgage vs. Interest Only Mortgage

A fixed rate mortgage contains the same imbursement amount for the entire duration of the loan.

### Income Required For Mortgage Calculator

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

### Interest Only ARM Calculator

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

### PITI Mortgage Payment Calculator

This calculator prepares an amortization schedule for your existing mortgage loan. You can see the amount of interest that you have to pay and an estimate of the remaining balances. You can also view the effect that prepayment amounts can have on the total inters incurred. If you want to view complete details, you can do so by clicking on the Report button.

### Early Mortgage Payoff Calculator

This is the yearly interest rate that is used to estimate the monthly payment. Please be advised that this is not the same as an APR or Annual Percentage Rate since the second comprises of different expenses like mortgage insurance alo

How much interest can you save by increasing your mortgage payment? This financial calculator helps you find out.

### Mortgage Tax Savings Calculator

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.

### Reverse Mortgage Calculator

Use this calculator to help determine the balance of a reverse mortgage. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time.

### Refinance Interest Savings

How much interest can you save if you refinance your mortgage? This calculator helps you find out! Enter the specifics about your current mortgage, along with your current appraised value, new loan term, rate and closing costs. This will determine how much interest refinancing can save you. In addition, it will calculate the number of months to breakeven on closing costs with your reduced monthly payment.

### Mortgage Qualifier

The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. Javascript is required for this calculator. If you are using Internet Explorer, you may need to select to 'Allow Blocked Content' to view this calculator.

### Bi-weekly Payments for an Existing Mortgage

This calculator shows you possible savings by using an accelerated bi-weekly mortgage payment. By paying 1/2 your monthly payment every two weeks, each year your mortgage company will receive the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest.

### Adjustable Rate Mortgage Calculator

Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be.

### APR Calculator for Adjustable Rate Mortgages

Use this calculator to determine the Annual Percentage Rate (APR) of your Adjustable Rate Mortgage (ARM). Knowing your APR can help you compare different ARMs with different fees and terms.

### Balloon Mortgage Calculator

A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and 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. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.

### Mortgage Comparison: 15 Years vs. 30 Years

Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford 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.

### Fixed Rate Mortgage vs. LIBOR ARM

A fixed rate mortgage contains the same imbursement amount for the entire duration of the loan. ARM or an adjustable rate mortgage has a variable rate that can have an effect on your monthly payment. LIBOR stands for the London InterBank Offered Rate, which is an index that is managed by a number of banks based in London and which is also used as a foundation for U.S. ARM.

### Interest Only Mortgage Calculator

You can use this calculator to generate a suitable mortgage plan for yourself. The graphs and report will give you a quick look at your principal balance and the total interest amount due. You can also find out the effect of principal payments if you are planning to make them. The calculator also plans your amortization schedule in detail on a monthly or yearly basis.

### Mortgage Loan Calculator

This calculator can help you in creating a suitable amortization plan for your existing mortgage. The results will let you know the amount that you have to pay in interest and your total remaining balances. You will also be able to see the effect that a principal payment may have on your schedule. The calculator creates an amortization plan on both a monthly and yearly basis.

### Maximum mortgage calculator

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

### Mortgage Points Calculator

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

### Rent vs. Buy

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes and monthly payments to help you make a decision between these two options. This report is based on the original purchase price, fees and taxes payable at that time. Insurance and tax costs can fluctuate from year to year.

### Refinance Breakeven Analysis

Cannot figure out when you will achieve the breakeven point for your mortgage refinance? The answer to this depends on a number of factors, such as your existing interest rate, the new interest rate which you will be offered, the closings costs and the time period until which you plan to reside in the same home. You can take help from this calculator and let it answer all your questions. The results will help you determine if mortgage refinancing is worth it or not in your individual specific scenario. You can view detailed results through the Report button.

### Mortgage Payment Calculator

When considering buying a new home or refinancing a mortgage, the most important thing that most people search is a mortgage payment calculator. With the aid of a mortgage calculator, you can calculate today's interest rate applicable on the amount of your new mortgage. You can easily determine the amount of the new monthly mortgage payment. Many free mortgage calculators are accessible on different sites. These permit you to enter the mortgage principal amount, the interest rate, and the duration of the mortgage, so as to determine and calculate your new monthly payment. The formula to calculate mortgage monthly payment is not so easy, and the only alternative is to make use of an online mortgage calculator.

Estimate Mortgage Payment

An online mortgage calculator is easier to locate and simpler to utilize. You can get an estimate of the affordable new monthly payment. As a rule, the mortgage repayment amount should be not more than one third of the after-tax income. This makes sure transparency and affordable nature of the payment. In case, the estimated mortgage payment comes out to be more than a third of the after-tax income, you have to re-evaluate the purchase and locate a better interest rate. An online mortgage calculator can help to figure out how much can be afforded to borrow. Just enter the interest rate and duration of the loan, and after that alter the principal amount until the mortgage calculator illustrates a monthly payment that is equivalent to one third of the after-tax income. Join this figure with any down payment that is available to determine and calculate the entire price in order to shell out for a new home.

### Monthly Mortgage Calculator

While using the mortgage calculator, always make sure the new mortgage is reasonable. Most mortgage calculators are planned with the intention of calculating affordable monthly payments. These calculators are also called mortgage payment calculators, and they can even perform amortization schedules.

Monthly mortgage calculator is different from standard mortgage calculators. They aid in the computation of total interest payable per month, and also divide the principal as per the term of the mortgage. The payment is determined as a portion of the principal amount to be paid every month, together with rate of interest.

### How does a mortgage payment calculator works?

A mortgage payment calculator is freely available online. The inputs required are the amount of mortgage engaged, existing rate of interest and the duration of the mortgage. A 'calculate' tab is present, when clicked; it will compute and demonstrate the monthly payments. A click on an 'amortize' tab would exhibit a comprehensive chart of the complete schedule of payments. Also, the mortgage payment calculators have distinct tabs for the determination of yearly taxes payable to the state government on the property purchased. In order to calculate the state taxes, these calculators require the zip code. The monthly payment is calculated, and on account of a down payment, that amount is subtracted from the calculation. Mortgage payment calculators display a concluding figure for the monthly payments to be made.

Mortgage payment calculators are very simply programmed, and even a layman can make use of them. Nowadays, many people are utilizing these free online mortgage calculators prior to approaching banks or financial institutions for acquiring a mortgage. They get the actual picture of how much is required to be paid every month and how much they can easily afford.

### What is reverse mortgage?

Reverse mortgage is a suitable mean to access a loan by utilizing the primary asset. These reverse mortgages also make easy flexibility on the cost part. A typical mortgage deal is defined as 'rising debt, falling equity' and you get the loan against your property. Based on regular payments, and after the concluding mortgage payment; the whole property belongs to you. In order to take benefit of a reverse mortgage, a regular source of income or credit record is not required. The primary requirement is that the house belongs to the individual who required a loan. Moreover, based on the age criterion, older the individual, heavier the loan amount could be.

A reverse mortgage calculator differs from a standard mortgage. The debt augments along with equity, there is no procedure of monthly payments and interest is included in the loan amount. A reverse mortgage enables you to access funds as a single lump sum payment, standard monthly payments, or a credit account. In case the borrower dies, there is a stringent condition that loan amount should be repaid straight away. The lenders of reverse mortgage make a protection for themselves, like default in paying home insurance premium and failure to pay property taxes. The lender holds the right to put embarks on these payment commitments and he will use your money to convene these expenses.

### How do reverse mortgages work?

A reverse mortgage is the opposite of a customary mortgage. The lender utilizes the equity in a home and pays the homeowner. You acquire the money get to stay in the property.

The amount of money needed to quality depends on the amount you still owe, value of the house, and your current age. The counselors help you understand how a reverse mortgage works. They will discuss the financial options available with you, and you can decide which one is the best for you. The amount you get is tax free, and there are no limitations on that. Reverse mortgages won't make any affect on social security or medicare advantages.

### Reverse mortgage disadvantages

**Reverse mortgage** is normally offered to senior citizens, and is considered to be very beneficial to an elder who requires an immediate cash. However, such a loan type has several disadvantages too.

Inconsistent Rate of Interest - The rates of interest are variable or consistent, and this can create misunderstanding on how much is the exact amount that is required to be paid to get back the equity of a particular home.

More Costly - A reverse mortgage is more costly than other kinds of mortgages. As the rate of interest continues to augment every month, and consequently, it can consume the whole equity of the property.

Excessive Fees - This mortgage comes with the excessive fees. The lenders of a reverse mortgage charge huge fees like closing fess, servicing costs and origination costs.

In the event, a particular reverse mortgage not paid on time can lead to loss of the equity on the entire property.

### Mortgage amortization table

A mortgage amortization table breaks monthly payments into two parts, i.e. the principal amount paid and the interest paid on that amount.

### Mortgage Interest calculation formula

Firstly, the amount of principal that is left to pay is considered. It is divided by the number of months in order to determine a monthly amortization table. Further, it will calculate the rate of interest and the amount that is required to be paid for one month.

### Mortgage Rate Formula:

One month's payment = Principal amount left/ number of months left x monthly interest x number of months left.

Interest on one month's payment = Principal amount left x monthly interest.

**Amortization table:** The first entry is the interest paid in the first month. The monthly payment is taken from a mortgage calculator. The principal part of the first payment is calculated.

Simply continue calculating in this way for the left payments, and the amortization table stands built.

### OTHER ONLINE FREE CALCULATORS:

- Mortgage Calculators
- Investments Calculators
- Savings Calculators
- Tax Calculators
- Retirement Calculators
- Business Calculators
- Auto Calculators
- Personal Calculators
- Debt Calculators
- Insurance Calculators
- Loan Calculators

**Other Countries & Languages**

- Australian Loan Calculators
- Australian Savings Calculators
- Canadian Calculators
- Canadian French Calculators
- Spanish Calculators