Mortgage Calculators
Mortgage calculators are designed to help home buyers determine their monthly payments and create amortization schedules. Many web sites and most real estate books on home buying or loan shopping offer home loan calculators that will help establish a buyer's purchasing power. Home buyers should not begin their home search until they have determined how much they can afford to pay for a new home.
Use the tools below to better understand the costs and payment options for buying a new home. Below the tools you will find additional information about mortgage calculators.
Loan Comparison Calculator
Payment Calculator
Closing Costs Calculator
Interactive mortgage calculators enable home buyers to determine a best rate home mortgage based on the amount to be mortgaged, the term of the mortgage, and the interest rate. They are self-help tools that allow for various reports and comparison of monthly and yearly amortization schedules (for example, a 15-year mortgage versus a 30-year mortgage with varying amounts of down payments or a fixed-rate mortgage versus an adjustable rate mortgage.)
‘How much can I borrow?' calculators provide the likely maximum amount of mortgage loaned under normal lending industry criteria. Factors include interest rates, points, term, down payment requirements, and maximum allowable ratio of house expense to income. Your affordability will also be affected by current debt. Mortgage calculators are also useful for measuring the effect of principal prepayments.
NAEBA-member agents can provide a variety of tools to determine the right level of investment for you at this time. Their commitment to NAEBA quality and responsibility standards means that you can rely on their advice and recommendations.