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 Rise for Third Straight Month

Sales of existing U.S. homes rose for the third month in a row in June, accompanied by increases in both price and inventory, according to the National Association of Realtors, as low interest rates continued to boost affordability. Total existing-home sales grew 2.6 percent in June to a seasonally adjusted annual rate of 5.04 million, up from 4.91 million in May, but the new pace is down 2.3 percent from the previous year. Inventory climbed 2.2 percent in June to a total of 2.30 million existing homes for sale, a 5.5-month supply at the current sales pace. That’s a 6.5 percent increase from June 2013. Prices made significant upward progress last month, with the median existing-home price rising 4.3 percent to $223,300 from the year before. Prices have grown on a yearly basis for 28 straight months now. “Inventories are at their highest level in over a year and price gains have slowed to much more welcoming levels in many parts of the country. This bodes well for rising home sales in the upcoming months as consumers are provided with more choices,” said NAR chief economist Lawrence Yun. “On the contrary, new home construction needs to rise by at least 50 percent for a complete return to a balanced market because supply shortages – particularly in the West – are still putting upward pressure on prices.” Mortgage interest rates remained at historically low levels in June, with the average rate on a 30-year conventional fixed rate mortgage falling to 4.16 percent, excluding points, down from an average of 4.19 percent in May. The percentage of distressed property sales continued to tumble, with foreclosures and short sales making up just 11 percent of all June sales, down from 15 percent a year earlier. The one negative to last month’s report is the lack of first-time buyers in the market. In June, first-timers made up 28 percent of all buyers, barely changed from May’s 27 percent, a level is that is below the historical averages. “Access to affordable credit continues to hamper young, prospective first-time buyers,” said NAR President Steve Brown. “NAR recommends that FHA reduce high annual mortgage insurance premiums for all qualified homebuyers and eliminate the insurance requirement for the life of the loan.” more

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