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.

APR ARM Loan

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

The Mortgage 101 Blog

Mortgage101 Blog
FROM THE MORTGAGE101 BLOG

Mortgage Rates Remain at Yearly Low For Second Straight Week

Long-term mortgage interest rates were unchanged for the second week, resting at their lowest level this year, according to data from Freddie Mac. In fact, rates have made almost no movement for the past two months. The average interest rate on a 30-year fixed-rate mortgage (FRM) stayed at 4.10 percent, excluding fees, during the week ended August 28, 2014. Since the last week in June, the average rate has bounced around in a very tight range between 4.10 percent and 4.15 percent. A period of such little movement has not been seen in years. Rates are down noticeably however, from a year ago when the average was 4.51 percent. The 15-year FRM carried an average rate of 3.25 percent, up from 3.23 percent the week before but down from 3.54 percent the previous year. The one-year adjustable rate mortgage average inched up to 2.39 percent from 2.38 percent. Compared with last year, the rate is much lower than the average of 2.64 percent. Freddie Mac vice president and chief economist Frank Nothaft said this week’s immobility was due to conflicting economic reports. “Mortgage rates were little changed following mixed housing news. Existing home sales rose for the fourth consecutive month to an annualized pace of 5.15 million, the highest of the year. On the other hand, new home sales fell for the third consecutive month to an annualized rate of 412,000 units. Also, the S&P/Case-Shiller national home price index confirmed the slowing in national house-price appreciation that has occurred in other metrics, with the seasonally-adjusted national index down 0.1 percent in June but on a year-over-year basis up a solid 6.2 percent.” Even as home sales have picked up in the past few months and the Federal Reserve has cut back on its rate-reducing stimulus program, mortgage rates have refused to move higher. It will likely take more improvements in the job market and overall economy before much upward rate movement takes place in the mortgage industry. more

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Today's Average 4.16%
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