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 Hit 2014 High As Interest Rates Remain Low

Sales of existing U.S. homes rose to an annual high in July, according to the National Association of Realtors, helped by mortgage rates that have fallen to their lowest level in over a year. The NAR reported that total existing-home sales – including sales of single-family homes, townhomes, condos and co-ops – grew 2.4 percent in July to a seasonally adjusted annual pace of 5.15 million, up from 5.03 million in June and the fourth straight month of sales increases. However, compared with July 2013, sales are still down 4.3 percent. Home prices have gained since last year though. The median existing-home price increased to $222,900, a 4.9 percent jump from July 2013. And inventory is up, rising 3.5 percent by the end of July to 2.37 million properties, representing a 5.5-month supply at the current sales pace “The number of houses for sale is higher than a year ago and tamer price increases are giving prospective buyers less hesitation about entering the market,” said NAR chief economist Lawrence Yun in a statement. “More people are buying homes compared to earlier in the year and this trend should continue with interest rates remaining low and apartment rents on the rise.” Interest rates on a 30-year fixed-rate mortgage dipped to an average of 4.13 percent in July, according to Freddie Mac, down from 4.16 percent in June. Rates have not been that low in over a year, since June 2013. But rates will not remain so low forever, Yun cautioned. “Although interest rates have fallen in recent months, median family incomes are still lagging behind price gains, and mortgage rates will inevitably rise with the upcoming changes in monetary policy,” he said. Another positive sign from the NAR housing report: the number of distressed sales fell to just 9 percent of all July sales, the first time they have dropped into single-digits since the NAR began tracking them almost six years ago. “To put it in perspective, distressed sales represented an average of 36 percent of sales during all of 2009,” Yun said. “Fast-forward to today and rising home values are helping owners recover equity and strong job creation are assisting those who may have fallen behind on their mortgage due to unemployment or underemployment.” more

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