11 Jan Mortgage Calculator
If you are thinking about selling, buying or possibly refinancing your home, you’ve probably been doing a little research into mortgage rates. It is important to not only find a home in your price range, but also to obtain a loan that matches your budget. Mortgage rates vary in different parts of the country, even within a single state. The mortgage game can be a frustrating, stressful and exhausting experience. But there is something out there to help make the process of researching rates and payments a little easier for you, and it’s free!
Tip: Bookmark this page so you can calculate your monthly payments for any home you find during your search!
- Mortgage Amount: How much money you plan on borrowing.
- Mortgage Payback Period: This is how long you want to take to pay off the mortgage. With the traditional 30-year fixed rate mortgage your monthly payments are lower than they would be on a shorter term loan. But if you can afford higher monthly payments, a 15-year fixed-rate mortgage allows you to repay your loan twice as fast and save a ton of interest costs compared to a 30-year loan
- Interest Rate: This is the percentage that you will pay to borrow the money to buy the home. These will vary based on your loan. You can find rates for the current national average on the left.