Free Online Mortgage Calculators
We offer a wide array of online mortgage and personal finance calculation tools. The left navigation groups calculators by category, while a more extensive explanation of each calculator is below. Calculators featured below contain amortization tables, allow home buyers to generate a PDF report about their loan, and make it easy to email these reports.
Mortgage Payment Calculator
This tool allows you to calculate your monthly home loan payments, using various loan terms, interest rates, and loan amounts. It includes advanced features like amortization tables and the ability to calculate a loan including property taxes, homeowners insurance & property mortgage insurance.
Remaining Home Loan Balance Calculator
Want to see how fast you will pay off your home loan? Use this free calculator to figure out what your remaining principal balance & home equity will be after paying on your loan for a specific number of months or years.
Loan Payoff Date Calculator
Have more money to put down on your home loan? Insert the amount you would like to pay each month & this calculator will figure how many years you save on your home loan given that additional payment versus a loan set to amortize over 30-years.
Extra Payment Calculator
Want to build your home equity quicker? Use this free calculator to see how even small extra payments will save you years of payments and thousands of Dollars of additional interest cost.
Monthly Interest + Principal Cost Per Thousand
This calculator shows how much you pay each month & each year — for each $1,000 of mortgage financing.
Real APR Calculator
Advertised vs actual home loan interest costs may vary singificantly based on points, origination fees & closing costs. Use this tool to estimates your real mortgage APR (Annual Percentage Rate).
Mortgage Affordability Calculator
Unsure how much you can afford to spend on a house? Use this calculator to figure home loan affordability from the lender's point of view.
Mortgage Interest Tax Deduction Calculator
One of the advantages of real estate investment is that some homeowners may qualify to deduct mortgage interest payments from their income when filing their taxes. This calculator estimates your tax savings after a house purchase. Financial analysis is provided for the first year & subsequent years.
Mortgage Refinancing Calculator
Is your current interest rate on your house too high? Use this free tool to view today's best home loan refi rates from top lenders & estimate your savings at a lower APR (Annual Percentage Rate).
Discount Points Savings Calculator
Discount points are an upfront fee which homeowners can pay to access lower mortgage rates. This calculator helps you discover if you should consider paying points on your home loan & calculate how quickly the points will pay for themselves.
Home Equity Loans Calculator
Do you currently carry high interest revolving credit on credit cards, cars & other personal loans? You may be able to leverage a home equity line of credit (HELOC) to lower your monthly debt payments.
Mortgage Qualification Calculator
Are you wondering if you qualify for a home loan? This pre qualification calculator estimates the minimum required income for a house & will let you know how much housing you qualify for a given income level. Please note that federal governmental loans from the USDA, the VA & the FHA have their own loan qualification requirements. It should also be noted that this calculator provides a rough estimate & lenders may charge varying rates or decide not to lend depending on variety of factors, including: down payment, house appraisal value, current market conditions, your current credit score & credit history, your outstanding debt obligations & other monthly debt payments.
Second Mortgage Calculator
Is property mortgage insurance (PMI) too expensive? Some home owners refinace a second low rate mortgage from another lender to bypass PMI payment requirements. Use this calculator to see if this option would save you money on your home loan.
This tool helps buyers calculate current interest-only payments, but most interest-only loans are adjustable rate mortgages (ARMs). When the housing market is hot many people chase it, buying near the peak with interest-only loans. If home prices continue to climb, one can refinance at a lower rate. However if rates reset higher, so too will payments — causing home prices to decline & many marginal buyers to lose their equity & perhaps their homes.
Interest-Only Loan Calculator With Additional Payments
One problem with interest-only loans is that unless home prices rise the homeowner does not build any equity in their house, which puts them in a precarious position when mortgage rates rise. One way to build a bit of a buffer from market fluctuations is by adding extra payments applied toward your principal.
Canada Mortgage Calculator
This calculator was designed specifically for conventional Canadian mortgages, with semi-annual interest compounding. The results also show the minimum required income for the home buyer.
Mortage Rates Comparison
Are you looking at a couple different loan quotes? Use this free mortgage calculator to get a side-by-side view of multiple loan quotes to select the best offer. For each quote you can select different rates, terms, points, origination fees & closing costs. 15-year loans build home equity faster, whereas 30-year mortgages offer lower monthly payments.
Bi-Weekly Mortgage Payments
In the early years of a longterm loan, most of the payment is applied toward interest. Home buyers can shave years off their loan by paying bi-weekly & making extra payments. Bi-weekly payments help you pay off principal in an accelerated fashion — before interest has a chance to compound on it. In making biweekly payments, those 26 annual payments effectively create an additional (13th) month of regular payments in each calendar year.
Rent vs Buy Calculator
Are you still renting and considering buying your home? Use this free online calculator to compare the costs and benefits of each.
Minimum Credit Card Payments
Are you making minimum payments on your credit cards? This free online calculator will show you how long it will take to pay off your current debt & the amount of interest you will accrue over that period while only making minimum payments. The interest costs will only spiral further if you keep spending on the card while making the minimum payments, or if you miss a payment and get hit with late fees and other penalties. Many credit cards not only charge interest on their fees, but also charge higher rates of interest for anyone who misses a payment. Repeated missed payments can lead to near usurious interest rates.
If you have significant credit card debt & pay extra each month, you can really eat into principal and save thousands of Dollars in interest costs. If the debts are reasonable, it may also make sense to pay off credit cards & other high interest loans using a home equity loan. If the debt load is too high you may want to talk to a credit counselor to seek alternative options.
Credit Card Payoff Goals
Want to pay off your credit cards early? Use this free credit card repayment calculator to find out how long it will take you to pay off your debt with current payments, and how much you'd be required to pay monthly to eliminate credit card debt sooner.
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