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The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... Monthly Payments & Schedule
Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
- Monthly payment
- Monthly principal and interest payment (PI).
- Total payments
- Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
- Prepayment type
- The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
- Prepayment amount
- Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
- Start with payment
- This is the payment number that you prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assume to happen before the first payment of the loan.
- Savings
- Total amount of interest you will save by prepaying your mortgage.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Time to Move >Advantages of Buying Down
Your youngest child has just left home! Your present house now seems enormous. Your "empty nest" has prompted thoughts of selling your home and moving to a smaller, more manageable house.
Before you make a move, you should consult two important professionals--your real estate agent and your tax planner. A good real estate agent will be able to tell you the value of your current home and the availability of alternative houses in your preferred area.
Buying a smaller home or condo can have important advantages, such as lowering your property taxes, simplifying property maintenance, and generating cash which can be put into income-producing investments. You will also want to consider the tax laws which allow capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. If you are moving downtown from the suburbs in order to be close to cultural centers, theaters and restaurants, there may be "quality of life" issues, such as noise or parking. Your real estate agent and your tax planner can provide valuable information to assist you in making such decisions.
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| Q |
What famous person said this? "Real Estate is the best investment in the world because it is the only thing they're not making anymore!"
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| A |
Will Rogers, who began his career as a rope-throwing cowboy and later became a famous stage and film star. |
 See More Real Estate Trivia > |
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