Mortgage Calculators

Mortgage Payment Calculator

Loan Type:

A mortgage payment calculator is a great tool to help home buyers estimate the cost of monthly mortgage payments. Whether you're interested in mortgage refinancing or looking to see how much tax you can deduct, these free mortgage calculator tools are here to help you. If you're interested in simple calculation of your mortgage use the tool calculator above. Otherwise, look through the different mortgage calculators below.


Purchase Calculators

How Much Can I Afford?

This calculator helps you identify how much you are able to afford when you are searching for a home.

How Much Do I Need to Qualify?

Compare your total monthly obligations including your total mortgage payment to your monthly income.

Should I Buy or Rent?

Our Buy vs Rent Calculator help you analyze the total cost of renting versus the total cost of owning.

Tax Benefits of Buying

This calculator estimates the tax benefit of buying a home.

APR Loan Calculator

Estimate the Annual Percentage Rate (APR) for a mortgage loan using your mortgage rate.

ARM Loan Payment

Compute your initial and estimate your future payments with Mortgage 101 ARM Loan Payment Calculator.

Refinance Calculators

Should I Pay Points - Refinance?

Helps you understand if you should pay loan points during your refinance.

Refinance Debt Consolidation Management

Figure how long before your savings equal the cost of obtaining a new consolidation loan.

Mortgage Principal

Figure your principal balance after any number of payments.

Extra Payments

Figures how long your mortgage will last depending on how much you pay monthly.

Mortgage Payment Amortization

This calculator will amortize your mortgage over the loan period based on your input.


Estimate the Annual Percentage Rate for an Adjustable Rate Mortgage based on input parameters.

The Mortgage 101 Blog

Mortgage101 Blog

Tight Lending Standards Have Erased 4 Million Potential Mortgage Loans

Because lending standards have been ratcheted down so tightly since the beginning of the Great Recession, there have been roughly 4 million “missed” mortgage loans between 2009 and 2013, according to a recent study. The Urban Institute, a policy research group, found that lending standards are tighter today than they were even before the housing boom. If lenders had moved back to their 2001 credit standards when the housing market crashed, there would have been a potential for an additional mortgage loans since then. Taz George, a research associate with the Urban Institute says that borrowers’ FICO credit scores have become the biggest determining factor for mortgage qualification. The study reported that in 2013, less than 40 percent of borrowers getting home-purchase loans had FICO scores below 720. (FICO scores run from 300 to 850.) Compare that with 2001 when lending standards will still much more cautious than during the housing bubble. In 2001 more than 50 percent of borrowers had scores below 720. “When you look at more moderate credit score borrowers, those with a FICO of between 660 and 720, that’s a score that in a year like 2001 we would consider eligible for a purchase mortgage, but today we see a 37 percent decline in the number of loans in that category,” George said. The paranoia in mortgage credit standards stems from all the soured home loans big banks were forced to buy back as well as legislation after the financial crash that threatened to make banks keep a portion of all mortgages made on their books. The risk has outweighed the benefits of lending for several years now. Americans are also in greater debt today than they were back in 2001. Student loans loom large for many potential first-time home buyers and credit card and auto debt have hit record highs lately. As financial regulations have been more clearly defined recently and government agencies are trying to lower certain fees for lenders, perhaps 2015 will see credit loosen enough to keep the mortgage market recovering. more

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