Mortgage calculator - Financial tool for simple loan calculations

Mortgage Calculator is a financial tool which makes your loan calculations simple and fast so that you can evaluate and compare prior to taking decisions on your mortgage.

There are a wide variety of mortgage calculators available. All you need to do is, select the right one that will work out figures with respect to your own situation. Some of the widely used calculators are:

Home Affordability Calculators: Using such tools, you'll come to know whether you can afford to buy a home with a mortgage. These include:

How much to afford : It helps you to find out what loan amount you can afford.
How much to borrow : Using this tool, you can calculate the maximum amount that you can borrow.

Mortgage Calculators: These are tools to you help you with simple loan calculations. The different types of motgage calculators include:

Debt-to-income ratio : You can use this tool to find out what's your debt to income ratio - the factor which indicates whether you're eligible for a mortgage loan.
APR : It helps you to determine the APR (effective rate of interest) on different loans so that you can compare them and then choose the right one for you.
FRM vs ARM : This is a tool with which you can calculate the figures and decide between an FRM and ARM.

Refinance Calculators: Such tools help you in loan calculations while you refinance an existing mortgage. These calculators are given below:
Refinance Savings: This tool helps you to work out how much you can save in interest by refinancing your current loan.

Cash-out Refinance Vs. Second Mortgage: Using this tool, you can work out figures and then decide whether to go for a cash-out refinance or second mortgage.

Amortization Calculators: Such tools are used to calculate the amortized monthly payments throughout the loan period. You'll also get printable amortization sheet. There are 2 types of Amortization Calculator:

FRM Amortization Calculator: Using this tool, you'll get the amortized payment sheet for fixed rate mortgage.
ARM Amortization Calculator: This tool provides you with the amortized payment sheet for an adjustable rate loan.

Apart from the above calculator types, there are various other tools to make your loan calculations simple and easy. Check out the tools from the section on 42 Financial Calculators.

Author

Message

Michael

Guest

0.10 Dollars($)

Post subject: Motgage calculator

Hi Sam, I went through the motgage calculators that have been provided in mortgagefit.com making the calculations easier. Gr8, specially the APR calculator. Carry on good work.

Samantha

Community Mentor

Joined: 16 Sep 2005
Posts: 1600
Location: MASSACHUSETTS

149.06 Dollars($)

Post subject:

Hi Michael, Welcome to MortgageFit Forums. We are happy that you found our effort useful. Our intention is to help our mortgage community grow along with valuable participation of people like you. If our effort to help people becomes successful by mutual participation and discussion, then we will feel it as great achievement. Your valuable suggestion and review will be appreciated always. God bless you. Thanks, Samantha

myers_21

Guest

0.10 Dollars($)

Post subject: motgage calculator - which to choose

Hi, I am looking for a motgage calculator thru which i find which is the best mortgage option for me. Can you help me in this regard. Thanks in advance Myers

Samantha

Community Mentor

Joined: 16 Sep 2005
Posts: 1600
Location: MASSACHUSETTS

149.06 Dollars($)

Post subject:

Hi Myers, Welcome to MortgageFit Forums. I shall be glad to help you. Actually the term best deal varies from person to person depending on the financial planning and requirement. I shall suggest you to go through this section on calculators where different calculators on various purposes have been given. You shall easily be able to make out the best one to help you from those. If you find any difficulty even after going through those, then post it here so that I can try to meet your need. God bless you. Thanks, Samantha _________________ Know how to compare lenders with mortgage booklet