Mortgage 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 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.

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. The Home Rent vs. Buy 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. Click the “View Report” button for a detailed look at the results.

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.

How much interest can you save by increasing your mortgage payment? The mortgage payoff calculator helps you find out. Click the “View Report” button to see a complete amortization payment schedule and how much you can save on your mortgage.

Use this mortgage calculator to determine your monthly payment and generate an estimated amortization schedule. Quickly see how much interest you could pay and your estimated principal balances. Enter prepayment amounts to calculate their impact on your mortgage.

How long will it take to break even on a mortgage refinance? Use the mortgage refinance calculator to sort through a multitude of factors including your current interest rate, the new potential rate, closing costs and how long you plan to stay in your home. The mortgage refinance calculator helps sort through the confusion and determine if refinancing your mortgage is a sound financial decision.