Easy Mortgage Calculator with Interest Rates Reference!
Use Our Free Mortgage Calculator To Estimate Your Monthly Mortgage Payment!
Mortgage Payment Calculator
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Mortgage Interest Rates – This Week Vs Last Week Comparison Chart
Mortgage Rates – Advanced Trends (Past 12 Months vs Previous 12 Months)
Why Use The Mortgage Calculator?
There are loads of loan and mortgage options to choose from, it may occasionally be a little overwhelming. Regardless if you’re preparing a brand new mortgage to buy a home or to refinance a mortgage on a home which you already own, there are a fantastic many aspects to consider.
To name just a few of the more common selections, there are fixed rate mortgages, adjustable rate mortgages, and fixed to adjustable rate mortgages for those who want something in between. Fixed rate mortgages with terms lasting between 15 and 3 decades are the most ordinary.
Kind of mortgage you end up using, the information you get from the home loan Calculator will stay relevant.
How To Use The Mortgage Loan Calculator:
We have done our best to make this calculator as simple and user-friendly as possible, but if you aren’t sure where to start, consider following these steps:
- Use the slider to enter your mortgage amount, or alternatively just type it into the box. If you aren’t sure however how much you’ll borrow, then simply enter your best guess.
- Utilize the drop-down list or the slider to input your term; this will be the number of years you intend to take to repay your loan.
- Use the slider or the box to input your interest rate. If you don’t know this however, leave the first figure as this is representative of the current market average.
- Your monthly payment will now be displayed in the top blue bar and beneath the rate of interest box based on the info provided.
- If you’re coming in under spending spending budget, you could click Prepayments to add an additional amount that you’ll pay every month, year, or one time. This may reduce the total amount paid as you could tell in the graph beneath the Prepayments section.
- Click View Report to see a more detailed breakdown of your loan including total amount to be repaid over the term, and a payment schedule comparing your regular payments with those augmented by prepayments (where relevant ).
Who is this Calculator for?
This calculator is most useful if you:
- Haven’t decided on what type of loan you want yet
- Want to get an idea of monthly or annual cost of buying a property
- Are looking to assess the long term benefit of making prepayments in addition to regular loan repayments
What kind of mortgage do I need?
The answer to this question depends upon your personal factors. Click Get FREE Quote, answer a few straightforward questions and quickly receive personalized rate quotes from mortgage providers who’re ready to meet your requirements.
What does PITI stand for?
Mortgage Loan Calculator (PITI) Overview
PITI is an acronym used to shorten the following terms:
- Principal — the amount you owe your lender, not including interest
- Interest — the payment made to your creditor for the support of providing the loan
- Taxes — added fees required by the government
- Insurance — protection for your house and loan
This PITI calculator was designed to take any of those costs into account, giving you an accurate idea of your loan’s monthly and yearly repayments.
There are mortgage options to pick from regardless if you’re preparing a brand new mortgage to buy a home or to refinance a mortgage on a home which you already own. The most famous and well known mortgage is that a fixed rate mortgage.
Mortgage Loan Calculator (PITI) Overview
There are many different mortgage options to choose from whether you are setting up a new mortgage to purchase a home or to refinance a mortgage on a home that you already own. There are fixed rate mortgages, fixed to adjustable rate mortgages and adjustable rate mortgages to choose from. The most popular and well known mortgages are 15- and 30-year fixed rate mortgages.