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Calculators
WHETHER YOU CAN AFFORD A PARTICULAR HOUSE5a) Housing Affordability: For borrowers trying to figure out whether they can afford a given-priced house use this calculator. WHETHER YOU SHOULD BUY NOW OR WAIT AWHILE6a) Calculators to decide to Buy Now or Save First: For borrowers trying to decide whether they will be better off buying a home now with a small or no down payment, or saving for a down payment first and buying later us this calculator. IF YOU'RE SHOPPING FOR A MORTGAGE TO FINANCE A HOME PURCHASE, YOU MAY WANT TO KNOW ... WHAT THE PAYMENTS WILL BE7a) Calculator for Mortgage Payments on Fixed-Rate Mortgages: For borrowers who want to know the monthly mortgage payment on a fully-amortizing mortgage at different loan amounts, interest rates and terms us the mortgage calculator. 7b) Mortgage Payments on Adjustable-Rate Mortgages Without Negative Amortization: For borrowers who want to know how the interest rate and monthly payments may change on an adjustable rate mortgage that does not permit negative amortization use this calculator. 7c) Mortgage Payments on Adjustable-Rate Mortgages With Negative Amortization: For borrowers who want to know how the interest rate and monthly payments may change on an adjustable rate mortgage that permits negative amortization use this calculator. 7d) Mortgage Payments With Temporary Buydowns: For borrowers who want an amortization schedule that shows the lower monthly payments in the early years from setting up a buydown account, and the amount that must be deposited in the account use these calculators. [ return to top ] HOW THE LOAN WILL AMORTIZE CALCULATORS8a) Loan Amortization Including Tax Savings: For borrowers who want an amortization schedule that shows the tax savings on the interest they pay, for their tax bracket. 8b) Loan Amortization and Property Appreciation on Fixed-Rate Mortgages: For borrowers who want to know how long it will take for amortization on an FRM combined with property value appreciation to reduce the ratio of loan balance to property value to some desired level. HOW THE INTEREST COSTS OF DIFFERENT MORTGAGES COMPARE CACULATORS9a) Interest Cost on a No-Negative Amortization ARM and a Fixed-Rate Mortgage: For borrowers trying to decide whether they should select an adjustable rate mortgage (ARM) without negative amortization or a fixed rate mortgage (FRM) based on the lowest after-tax interest cost. 9b) Interest Cost on a Negative Amortization ARM and a Fixed-Rate Mortgage: For borrowers trying to decide whether they should select an adjustable rate mortgage (ARM) with negative amortization or a fixed rate mortgage (FRM) based on the lowest after-tax interest cost. 9c) Calculators to Comparing Two Fixed-Rate Mortgages: For borrowers trying to decide which of two fixed-rate mortgages they should select based on the lowest after-tax interest cost. [ return to top ] HOW MUCH LENDERS ARE CHARGING IN FEES CALCULATORS 10a) Estimating Lender Fees From the APR on Fixed-Rate Mortgages: For borrowers who want to know the fees charged by a lender, in addition to the rate and points quoted in the media. 11a) The Costs and Benefits of Paying Points on Fixed-Rate Mortgages: For borrowers who want to know whether they will save or lose money over a specified period by paying points in order to reduce the interest rate on an FRM. 11b) The Costs and Benefits of Paying Points on Adjustable-Rate Mortgages:For borrowers who want to know whether they will save or lose money over a specified period by paying points in order to reduce the interest rate on an ARM.. 11c) Rate of Return From Investing in Points on Fixed-Rate Mortgages: For borrowers who want to know whether paying higher points to get a lower interest rate on an FRM is a good investment. 11d) Rate of Return From Investing in Points on Adjustable-Rate Mortgages: For borrowers who want to know whether paying higher points to get a lower interest rate on an ARM is a good investment. [ return to top ] HOW LARGE A DOWN PAYMENT TO MAKE 12a) Rate of Return From Investing in a Larger Down Payment: For borrowers with enough cash to make a down payment in excess of the minimum required on a particular loan, who want to know whether using the cash to increase the down payment is a good investment. [ return to top ] WHETHER TWO MORTGAGES ARE LESS COSTLY THAN ONE? 13a) Two Mortgages Versus One Larger Mortgage: For borrowers trying to decide whether they should take a second mortgage, either to avoid mortgage insurance or to avoid the higher interest rate on a jumbo as opposed to a conforming loan amount. WHETHER TO PAY FOR MORTGAGE INSURANCE 14a) Pay for Mortgage Insurance or Pay a Higher Interest Rate: For borrowers trying to decide whether they should elect to pay mortgage insurance on a fixed-rate mortgage, or avoid mortgage insurance by paying a higher interest rate. [ return to top ]
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