Mortgage calculators
A mortgage is a loan with several costs bolted on, and most of them are left out of the monthly figure a lender quotes: insurance, property tax, and the mortgage insurance you pay until you hold enough equity to stop. The comparisons here are the ones that move real money across thirty years, which is refinancing, term length, and whether to pay early.
Mortgage Calculator (PITI)The full monthly payment on a mortgage: principal and interest, plus the property tax, insurance and dues your lender collects with them. With the amortisation schedule and the total interest across the life of the loan.Mortgage Affordability CalculatorThe house price two lending ratios allow, and which of them binds. The front-end ratio caps housing alone and the back-end caps all debt, and someone with car and student loans is usually limited by the second.PMI CalculatorPrivate mortgage insurance cost and when it cancels. PMI protects the lender, not you, and it must be terminated automatically at 78 percent loan to value, though you can request it at 80.Mortgage Points & Buydown CalculatorWhether buying mortgage points pays. A point costs one percent of the loan and typically buys a quarter point of rate, so break-even usually falls between four and seven years, which is longer than most people keep a mortgage.Mortgage Payoff CalculatorWhat paying extra does to a loan. Every extra dollar goes entirely to principal, so the effective return on paying early is the loan rate itself, guaranteed and risk free.ARM vs Fixed Rate CalculatorARM against fixed rate, judged on the capped worst case rather than the teaser rate. The question is not whether the initial saving is real but whether you can afford the payment if rates hit the lifetime cap.15 vs 30 Year Mortgage CalculatorFifteen against thirty years, comparing the interest saved to what the payment difference would earn invested. The shorter loan always costs less interest and is not automatically the better decision.Refinance Break-even CalculatorWhether refinancing pays, on both the monthly saving and the lifetime interest. Extending the term while lowering the rate can cut the payment and raise the total cost, which is the trap this makes visible.Cash-Out Refinance CalculatorCash-out refinance cost. Refinancing a low rate to take cash out reprices the entire balance at the new rate, which is why the cash can cost far more than its face value in extra interest.HELOC Payment CalculatorPayment on a home equity line once it enters the repayment phase, amortising the drawn balance over the remaining term.Rent vs Buy CalculatorRent against buy over the years you will actually stay, comparing net worth rather than monthly outgo. The honest comparison invests the down payment and every monthly difference, which is the step most versions of this skip.Mortgage Interest Deduction CalculatorThe real tax benefit of mortgage interest. Only the amount by which itemised deductions exceed the standard deduction saves anything, so the benefit is far smaller than the interest times the tax rate.Bi-weekly Payment Savings CalculatorWhat paying half your mortgage payment every two weeks actually saves. Twenty-six half-payments a year is thirteen monthly payments, and that thirteenth one is what retires the loan years early.