When looking for a home – and figuring out how you will finance that home – it sometimes helps to have a heads up one the financial expenditures. How much money will you be paying per year on a fifteen-year mortgage? How about for thirty years? And with X, Y or Z interest rate?
The Internet is full of amazing resources for new home owners who are curious about the estimated costs of taking out a mortgage. You can find mortgage and amortization calculators at more than 200 Internet websites, but here is a look at the top five mortgage calculators.
Providing expert advice on mortgages, debt, refinancing and leasing for more than twenty years, amortization.com is one of the leading resources concerning mortgages. They have several piece of software that allow home owners to calculate projected mortgage payments and to assist with determining a household budget. They have articles, news releases, tutorials and tips for home owners who are concerned about their mortgages. Their most popular software program, MORTGAGE2 PRO, costs less than $40 and leads consumers through every step of the mortgage process.
#2. Quicken Loan
Quicken is one of the top financial companies in the world right now, offering advice, software, tips and various other resources that can help both individuals and businesses cope with financial decisions. Not only is their website easy to navigate, but they also offer online support from financial advisors and they are America’s largest mortgage lender.
Quicken Loan has more than ten different financial calculators, all of which are free to the public. The Mortgage Rate & Payment calculator is their most popular, and also the most useful for consumers who wish to project their potential mortgage payments. It’s an easy process that requires only three simple steps, and you can have your results in less than five minutes.
#3. Mortgage Calculator
Here is another website that has several options from which to choose, including a regular mortgage calculator as well as a “Rent Vs. Buy” calculator and a “Bi-Weekly” mortgage calculator. This site isn’t as easy to navigate as that of Quicken Loans or Amortization, but it is just as informative with perhaps more resources. Your can input your Interest and Principal maximums and minimums to generate an HTML table of prospective mortgage payment calculations.
I’ve often used this site when I need accurate and up-to-the-minute data on financial and credit-worthy information. Bankrate.com has a staff of knowledgeable and creative professionals who provide advice, tips, resources and data on a variety of financial information.
Their mortgage calculator, which is one of the most sophisticated that I’ve seen, with an option to include your zip code in your calculations, thereby instigating the most accurate information possible. This is an excellent “one-stop” resource for all of your financial and credit needs.
This site, unlike most others, is dedicated entirely to mortgage calculations. This is the place to go if you’d rather not be bogged down by extraneous information. It’s straight-forward, easy-to-navigate, and offers the most accurate information possible. Calculators4Mortgages also offers the ability to add their calculators to your website for free. You’ll find calculators for amortization payments, monthly payments, loan comparisons, refinancing, pre-qualifying, early pay-offs and home affordability.
If you are looking for mortgage calculators in order to ensure that you are making the right decisions concerning your home, any one of the above sites can help you to get the answers you need.