Whether you are looking to buy a home, shop for a mortgage, refinance a mortgage, compare buying vs. renting, estimate an early payoff, or calculate and compare PMI, monthly payments, or interest rates, the home mortgage calculators in this section will eventually expand to cover all of your dwelling buying, owning, selling, and renting calculator needs.
Unlike other websites that offer home mortgage calculators, I have no vested interest in whether you buy or rent, which house you buy, or which mortgage company you choose.
This means that I am completely free to create home mortgage calculators that hold your best interests at heart, not the best interests of real estate brokers, banks, or mortgage companies.
If you're like the rest of you were never taught to be your own financial expert. Sadly, our public educational system refuses to add "personal finance" to its list of K-12 mandatory subjects. Apparently they would rather spend years teaching us subjects that we will never use enough to remember, instead of teaching us time-value-of-money, economics and finance -- something every single one of us will need and use every day for the rest of our lives.
Had we been taught the economic and financial concepts that are absolutely critical to successful personal money management, most of us would now be free to discover and pursue a work that we love while happily living within our means -- free of the suffocating constraints of debt.
Instead, we left 12-years of public education only to be shoved out into a highly complex financial world, completely void of any meaningful training in how to accurately forecast the consequences of our financial actions and inactions.
Had we been taught what we needed to know, not only would we know that every single action or inaction we take has financial consequences, but we would also be able to accurately forecast those consequences for the purpose of making wise, self-supporting financial decisions.
Because our public educational system never taught us the critical elements of maximizing our financial happiness, we end up relying on others to help us make our financial decisions. The problem is, these "others" have a vested interest in the outcome of our decisions. And because they stand to gain from our decisions, these "others" are only going to exaggerate and emphasize the upside of taking their advice, while downplaying and ignoring the downside (that is, unless the government steps in and forces the "others" to include the drawbacks in unreadable fine print).
As a result of relying on the advice of these self-serving "others," most of us have spent our entire lives acting in their best interests, rather than acting in our own best interests. And I for one, am completely tired of seeing these "others" getting rich off of the ignorance of the rest of us. I hope you are too.
My goal for the financial calculators on this website is to help you to become fully aware of the drawbacks that our public school system failed to teach you, and to downplay the exaggerated benefits the "others" have been and are now and forever teaching you, all for the purpose of helping you to accurately forecast the financial consequences of your actions and inactions.
Once armed with this ability it will be almost as if you've been given a crystal ball that allows you to see ahead of time what will happen to your future when choosing one alternative action over another.
Throughout the home mortgage calculators section I hope to bring to light the following, little talked about, yet all-important concepts you will need to be aware of in order to accurately forecast the consequences of your dwelling decisions.
Hopefully after studying the bite-sized lessons and using the home mortgage calculators in this section you will have all the information you need to make smart, self-supporting, and emotionally profitable decisions with respect to buying, renting, and owning a dwelling.
Below are the current house purchase, payment, rent, refinance and affordability calculators contained in the home mortgage calculators section, all of which are dedicated to helping you to live in dwelling with the highest emotional profits for the least financial cost.
Biweekly Extra Mortgage Payment Calculator with Amortization
This calculator will calculate the time and interest you will save if you switch from making monthly mortgage payments to paying 1/2 of your mortgage payment -- plus an extra amount -- every 2 weeks. The results include a side-by-side comparison of monthly vs bi-weekly payoff timeframes and interest costs, plus a button for creating a printer friendly report with optional biweekly amortization schedule.
Biweekly Mortgage Payment Calculator
This free to use online calculator will calculate the bi-weekly payment and the time and interest savings that will occur if you switch from making monthly mortgage payments to paying 1/2 of your mortgage payment every two weeks. Includes "How to Double Your Bi-weekly Payment Savings."
Variable or Adjustable Rate Mortgage Payment Calculator
This free to use online variable rate mortgage calculator will calculate the initial payment, maximum payment, and adjusted payments for an ARM loan. Includes "Adjustable Rate Mortgage Definition, Basics, Types, and Warnings" plus a printer friendly summary, adjustment chart, and amortization schedule.
House Affordability Calculator
This free to use online calculator will calculate the price of the home you may be able to afford based on the amount of cash you have available for a down payment, and on the monthly funds available for making your mortgage payment and for paying the ongoing home ownership costs.
Mortgage Prequalification Calculator
This free to use online calculator will calculate whether or not you would qualify for a home loan, and if so, how much of a home loan you might be qualifying for. Includes a printer friendly report, a printable amortization schedule, and a qualifying ratio that lending institutions don't want you to consider.
Monthly House Payment Calculator
This free to use online interactive calculator will calculate the monthly payment and total interest costs of a home mortgage. Includes "Grow Slow, Pay As You Go" home buying method.
PITI Mortgage Calculator: Insurance, Mortgage Payment, Tax
This free to use online calculator will calculate and total the monthly principal, interest, tax, insurance, and private mortgage insurance (PMI) payments that normally come attached to a home loan. Includes optional amortization schedule and number or work-hours required to make all of the payments.
Interest-Only Home Loan Calculator
This free to use online calculator will calculate the before and after payments and the total cost of an interest-only home mortgage. Includes "How to Use Interest-Only Payments to Save a Fortune."
Mortgage Interest Rates Calculator for Comparison of Mortgage Rate Costs
This free to use online calculator will calculate mortgage rates cost comparisons of up to four different home loan interest rates. Includes "Is a Home Loan a Good Debt?"
Second Mortgage Payment Calculator
This free to use online calculator will calculate the monthly principal and interest payment needed to repay a home equity loan, plus calculate the total interest you will pay by the time you pay off the 2nd loan. Includes "What is a Second Mortgage?"
This free to use online calculator will calculate the amount of the Home Equity Line of Credit you may qualify for based on the appraised value of your home, your current outstanding mortgages against the home, and the loan to value (LTV) the lender is willing to extend to you. Includes "What is a Home Equity Line of Credit (HELOC)?"
HELOC Payment Calculator
This free to use online calculator will calculate the monthly interest-only HELOC payment given your current balance and interest rate, plus calculate the principal and interest payment that will take effect once the draw period expires. Includes "HELOC versus Home Equity Loan."
Home Loan Refinance Calculator: Should I Refinance? How Much Will I Save?
This free to use online calculator will calculate the net-consequences of refinancing your home loan at a lower interest rate, including LTV and PMI changes. The calculator includes a built-in closing cost estimator (no closing costs, low, medium, and high), and includes cash-out and cash-in options. Plus, unlike most other mortgage refinancing calculators, this calculator will tell you how many months you need to stay in your refinanced home in order for the lower interest rate savings to offset the cost of the new home loan (break-even). Page includes answers to "What does refinance mean?", "Why refinance?", When are savings truly savings?", and "How to refinance your house".
Rent Vs Buy Mortgage Calculator
This free to use online calculator will calculate and compare the cost of renting to the cost of buying a home -- including all of the home ownership costs that mortgage brokers and real estate agents hope you will ignore. Includes a printer-friendly rent or buy home report, and "Don't Be an Ostrich."
Weekly Mortgage Payment Calculator to Compare Mortgage Interest Savings
This free to use online calculator will calculate the weekly payment for a new mortgage, and/or calculate the time and interest savings you could realize if you started making the equivalent of 13 payments per year (bi-weekly) or the equivalent of 14 payments per year (weekly). Includes a year-by-year balance comparison chart for monthly, bi-weekly, and weekly mortgage payments, plus a brief discussion of "Weekly Mortgage Payments Vs. Monthly."
Early Payoff Mortgage Calculator to Calculate Mortgage Payoff Goal Payment
This free to use online calculator will calculate the amount you will need to add to your monthly house payment in order to pay off your mortgage within a desired time frame -- plus calculate how much interest you will save in the process. Includes "How a Coffee Habit Can Cost You $33,000, or More!"
Extra Payment Mortgage Calculator to Calculate Mortgage Payoff Savings
This free to use online calculator will calculate the time and interest you will save if you make one-time, monthly, and/or annual extra payments on your house loan. Includes "Get Your Share of the Bailout Money!"
Mortgage Recast Calculator to Calculate Reduced Payment and Re-amortization Savings
This online calculator will calculate the reduced payment amount and resulting interest savings if your home loan lender secretly offers mortgage recasting. Includes a savings comparison chart and an optional re-amortization schedule. The page also includes answers to the questions, "What is a Mortgage Recast?" and "Is Recasting a Good or Bad Idea?"
Mortgage Savings Calculator to Calculate Mid-Term Prepayment Mortgage Interest Savings
This free to use online calculator will calculate the interest you will save if you add any number of prepayments to your future house payments for as long as you plan on staying in your current home. Includes a year-by-year interest savings chart and an answer to the question, "How Do Prepayments Create Mortgage Interest Savings?"
Prepay Mortgage Calculator to Calculate Monthly Prepayment Savings
This free to use online calculator will calculate the time and interest you will save if you prepay your mortgage by adding a prepayment amount to your current house payment. Includes "No Compass Vs. A Faulty Compass"
The following is a list of home mortgage calculators that I plan to add to this section as I have time. I'm basically adding house buying, payment, interest, PMI, refinance and affordability calculators to free-online-calculator-use.com in the order from highest demand to lowest demand, so if you see any of the calculators in the following list you want me to put on the high priority list, please let me know.
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