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Free Online Mortgage Calculator - Figuring your monthly paymentUnless you are a math whiz, trying to calculate monthly mortgage payments when thinking about a home loan can be a daunting task. Interest rates, adjustable rates, interest only loans, 15 year loans, 30 year loans, points - it becomes confusing fast. But whether you are looking to refinance or just want to run some what-if scenarios (changing your down payment amount, for instance), we have put together a number of free online mortgage calculators that do all the hard work for you - tell it your loan amount, your interest rate, and your loan term and it will spit our your monthly payment schedule, showing you much is going towards interest and how much is building equity in your property (amortization schedules). Lets start with some round figures you can keep in your head. For a $100,000 30 year loan at 6% interest, your monthly payment would be: $600. You can easily scale that up, so a $300K loan at 6% and 30 years is 3x$600 = $1800. How about at 5%? It works out to $536 per $100K borrowed. How are we getting these numbers? Check out the sites below.
Easy Mortgage Payments - Use a Calculator!Let's start with:HomeStore Mortgage and Amortization Calculator - just plug in your loan amount, term, and interest rate and you get complete details on monthly payment amount, annual and monthly amortization schedules, and more.
Bankrate has a huge collection of mortgage calculators. Mortgage calculator (includes amortization schedule) • Amortization schedule calculator • Advanced Mortgage Calculator: Calculate your payment and more • Your Personal Mortgage Adviser: Customized advice on the big 3 mortgage decisions • Mortgage Points Adviser: Which rate/points combination is right for you? • 15-Year or 30-Year Mortgage: Which is right for you? • Fixed or Adjustable Rate Mortgage: Which is right for you? • Get a biweekly mortgage payment plan • Interest-only mortgage loan payment calculator • Rent or Buy Your Next Home: Which is right for you? • How much house can you afford? • Should you refinance your mortgage?
Mortgage-Calc - simple monthly payment calculator, rent vs. buy calculator, how much can I afford, and how much can I borrow? They even let you compare 3 different loans at a time to see how the mortgage rates line up under various circumstances. Once armed with a mortgage payment calculator, the rest is easy. At least until it comes to filling out all that paperwork for the bank. We can't help you with that!
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