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

Existing Home Sales Soften in Response to Tight Inventory

Sales of existing U.S. home sales fell 3.3 percent in April, according to the National Association of Realtors, a product of tight inventory pushing home prices up, pricing many buyers out of the market. “April’s setback is the result of lagging supply relative to demand and the upward pressure it’s putting on prices,” said NAR chief economist Lawrence Yun. “However, the overall data and feedback we’re hearing from Realtors® continues to point to elevated levels of buying interest compared to a year ago. With low interest rates and job growth, more buyers will be encouraged to enter the market unless prices accelerate even higher in relation to incomes.” Total sales fell to a seasonally adjusted annual rate of 5.04 million in April, down from 5.21 million in March. Compared with one year earlier, sales were up 6.1 percent. And existing-homes sold at a record speed, selling in an average of 39 days on the market, the fastest pace in almost two years. “Housing inventory declined from last year and supply in many markets is very tight, which in turn is leading to bidding wars, faster price growth and properties selling at a quicker pace,” said Yun. “To put it in perspective, roughly 40 percent of properties sold last month went at or above asking price, the highest since NAR began tracking this monthly data in December 2012.” Inventory did rise in April, climbing 10.0 percent to 2.21 million existing properties for sale, which will likely help improve home sales in the current month. Inventory is still down 0.9 percent from the year before. At April’s sales pace, there was a 5.3-month supply of home on the market, up from 4.6-month supply in March. The median home price for existing-homes rose to $219,400, an increase of 8.9 percent from April 2014 and the 38th straight month of year-over-year price gains. Mortgage interest rates fell in April, according to Freddie Mac, with the average rate on a 30-year fixed rate conventional home loan dropping to 3.67 percent from 3.77 percent in March. Rates are expected to stay low through September, a condition that could aid home sales in the coming months if inventory continues to rise.   more

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