An Online Mortgage Loan Calcuator Can Help You Decide
Are you thinking about refinancing your home or purchasing another one? Unless you have a big stockpile of cash, you probably need some information to make several important decisions.
- You want to know how large your monthly payments will be so you can determine if those payments will fit in your budget.
- You may want to decide if it is worth it to refinance. Our calculator will show you how different interest rates affect your monthy payments and your total payout over time.
- Most of us make our monthly mortgage payments without much regard for the total amount we are actually paying for our homes. It is interesting, and a little depressing, to note that we pay well over $400,000 for a $200,000 30 year mortgage with a 6% interest rate.
You will probably also have some loan payout time options, and you could use some numbers to help you choose the length of your mortgage. For example, a 15 year mortgage means you pay less money over a shorter term, but your monthly payments will be larger.
This Simple Mortgage Loan Calculator