How this tool can help you
Remember that not all mortgages are created equal. While these tools are available free for your use, please consult your mortgage lender (in fact, get quotes from a few) to discover the loan option that works best for you. Don’t know where to start? Contact one of our real estate professionals today and they’ll direct you to some smart, suitable options.
Don’t make the mistake of choosing a mortgage solely based upon your monthly principal and interest payment. There are multiple alternatives available. Use a mortgage calculator to estimate the payment on the amount of money you need to borrow for a home purchase. It can also help you understand if an adjustable-rate mortgage (ARM) is a option worth taking or how your installments will be affected if you make extra payments on your loan. Of course, there are other reasons why you might use these tools as well.
Keep in mind that although a mortgage calculator is helpful for crunching numbers and giving prospective purchasers a correlation between home price (or more specifically loan amount) and monthly payments, not all calculators are created equal. Some fail to give you a complete and accurate picture of all costs.
Simple mortgage calculator
Advanced calculator, tables, additional calculation options, etc.
Access Karl’s Mortgage Calculator: click here.