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The home affordability calculator helps you determine your maximum
affordable home price based on monthly income, debts, interest
rates and the length of your loan. |
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The Home Mortgage Loan Calculator helps you analyze home mortgage
loans. How much can you afford to borrow for how long at what
interest rate? |
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The Fixed vs. Adjustable calculator will help you determine
whether you should choose an fixed rate loan or an adjustable
rate loan. The interest rate for a fixed rate loan stays the
same for the life of the loan. But with an adjustable rate mortgage
(ARM), the interest rate fluctuates periodically based on an
index like the U.S. Treasury Security Yields (1 Year T Bill),
the Cost of Funds Index (COFI) and the London Inter-Bank Offer
Rate (LIBOR). |
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This calculator allows you to estimate the costs of owning a
home and the costs of renting and allows you to evaluate which
option to take by comparing them. There are several factors
determining the overall costs of renting or owning. |
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The Should I pay more down? calculator will help you compare
the benefits of different down payment options. For example,
if you have high savings rate, you may want to make a lower
down payment and keep the rest of money in the bank collecting
interest. For most homebuyers it makes sense to make a higher
down payment because it will result in lower monthly payments
and less interest paid on the loan. |
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The Points vs. No Points calculator will help you determine
whether or not paying for points is the best option for you.
Points are sometimes referred to as loan discount points. Points
are prepaid interest on your loan. Usually, homebuyers will
pay points to lower the interest rate and save on taxes, since
points usually tax deductible as interest, You may want to follow
the rule of thumb that says that the longer you intend to keep
the loan, the more points you should consider. |
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The "Should I Refinance?" calculator will help you
determine whether refinancing your loan for a lower interest
rate is a wise decision for you. While a lower interest rate
will mean lower monthly payments and less total interest, a
refinance will also mean paying closing costs and, in some cases,
points. If the monthly savings exceeds these closing costs,
refinancing is a good option. |
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The Biweekly Mortgage Calculator helps you analyze your mortgage
needs. It computes the biweekly mortgage payment in comparison
to the regular mortgage. |
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