Mortgage Calculators To Make Your Life EASIER
Our mortgage company at the Lake of the Ozarks prides ourselves on offering friendly customer service to all. We understand that the mortgage process can seem complicated or confusing to someone who is new to it. With that being said, our Lake of the Ozarks mortgage lenders are here to give you a few mortgage calculators to make your life EASIER in this week's blog.
Rates and Payments Research
Monthly Payment - Calculate your payment and amortization schedule.
Compare Terms - Compare multiple terms for a given principal and rate. For example, see the difference between a 15 year and a 30 year mortgage.
Compare Rates - See how changes in your rate affect your payment for a given principal and term.
Mortgage APR - Find the APR on a fixed rate mortgage.
Balloon Payment - A balloon mortgage can reduce your monthly payments but may require refinancing at the end of the term.
Interest Only - Compare monthly payment amounts for an interest-only mortgage and a principal-interest mortgage.
Adjustable Rate Mortgages - Determine monthly payments and the effective interest rate (APR) for an ARM.
Budgeting Decision Tools
Mortgage Qualifier - Find out if you qualify for a given mortgage and just much you can afford, then create an amortization schedule.
Payment Range - Plug in a high and low figure for a payment and see how it translates to a mortgage.
Mortgage Payoff - Save thousands of dollars in interest by increasing your monthly mortgage payment.
Bi-weekly Payments - Discover how much in interest you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month.
Mortgage Tax Savings - Estimate the tax savings you'll realize by deducting interest and property tax payments.
Analysis For Renters
Tax Savings for Renters - Find out how much someone currently renting can save in taxes this year if they decide to purchase a home.
Rent vs. Buy - Factor in things such as interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, and selling costs to see the real difference in renting versus buying.
Renter Affordability - Based on your current rent, find out how much of a mortgage you could afford.
Refinancing
Refinance Savings and Break-even - Should you refinance your mortgage? Use this calculator to determine what your new payment will be, how much you'll save in interest and when you will break even.
Consolidate and Refinance - Should you consolidate a first and second mortgage into a single mortgage?
All of us here at the MHQ - Mortgage Headquarters hope that you found this blog enlightening and helpful! If you have any questions about any of this, please do not hesitate to give us a call. We can be reached at the phone number listed below. You can also follow us on our social media channels listed below to stay up to date on our latest mortgage tips, announcements, and suggestions.
Comments
Post a Comment