Is there a calculator for this on the net?
It is only better to pay it off, if all your non-deductable debts are paid off first.
Does anyone have a link for an accurate mortgage calculator? I noticed when we bought our first house, the online mortgage calculators underestimated our payment by over $200.
bankrate.com
Is there a calculator online that will give a graph or chart to a user comparing whether it is better to pay off a mortgage early or to invest in retirement?
Why not do both? You don’t want to be one of those people who paid off their house but has zero retirement savings.
like the one posted on this page… http://www.tnbsolutions.com/mtgcalculators/view.php?i=11171000
I’m putting together a website.
excel has one that you can convert to html
open up excel go to office online and do a search on mortgage calculator
or go to refdesk and find the calculators link their are very many
I’m looking to buy a house and the realty agency that I am looking at has a mortgage calculator on their website. Here are the numbers.
home price: $100,000
down payment: 5,000
Loan term: 30 years
annual interest rate: 5%
the monthly payment is: $510…how accurate does this sound. Is this what I will pay monthly?
Those are accurate numbers for financing 95,000 for 30 years at 5%. The calculators are only as accurate as the numbers you feed them. A lot of them don’t include things like PMI, homeowners insurance and other items that you will have to put in escrow.
Don’t forget you will likely have to pay for appraisals, inspections and closing costs.
250000.00 mortgage @ 5.2% for 40 years
bankrate.com
check out Mookal, an http://www.mookal.com Mortgage Payment Calculator, with all the bells and whistles, the coolest I’ve seen.
That will tell me how much quicker my mortgage will be paid off if I increase my monthly payments. Thanks in advance!
Try this.
E.g $150K Mortgage over 30 years at 6% APR (fixed).
Please show what you typed in the calculator!
Many Thanks
Algebraic Calculator!
APR = Annual Percentage Rate
which means that you will pay that percentage of your mortgage in interest each year.
So, 6% of $150k is:
0.06 * 150000 = $9000 per year
$9000 / 12 = $750 per month in interest
So, to find out how much interest you will pay on a particular month, just do:
(Amount you owe on your mortgage) * (APR) / 12
If you’re looking to find out how much interest you will pay in total over a period of 30 years, during the course of paying down the principal, that is a much more complicated calculation. I would recommend using a mortgage calculator that shows amortized payment schedules. Try this one:
http://www.hsh.com/calc-amort.html
Hi, I’ve been looking online and can’t find a calculator where I say I can afford a total of $$$ per month (Principle/Taxes/Insurance/Interest) included and the calculator tells me how much mortgage I should take. Is there one available?
I don’t know of any that do exactly what you want, but I can point you at two that will provide you with the information your looking for, if you’re willing to fiddle with them a bit.
The first one calculates how much of a loan you can afford based on income, current debt, etc.
The second one is an amortization calculator. After you plug in some basic mortgage information, you can plug in some additional principal and see how it affects the mortgage.