Monday, May 5, 2008

Mortgage Loan Calculator

With the majority of economists now speculating that rates will either go up or perhaps stay the same for the foreseeable future, anyone who has been thinking about refinancing will probably want to look into it now. We're not expert economists here, but rates have increased a little bit every day since Bernanke lowered the discount rate last week. Below is a calculator to help you determine if a refinance is a good idea for you.

Also, for potential homebuyers, this will give you an idea of what you can afford. Be sure to use the "mortgage" function rather than "loan" function so you'll have the most accurate total payment including property taxes and homeowners' insurance.


6 comments:

Richard said...

Great post,

The Mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

LiveMortgageFree

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The mortgage calculator will show you how much your monthly payment will be. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

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Birmingham SEO said...

The tax rebates have done whatever good they can do and it is hard to see how consumers can continue to spend even at the reduced current rates. The Fed has used up its ammunition.

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