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October 17, 2008, Newsletter Issue #138: Mortgage Calculators Help Figure Your Costs
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Tip of the Week
Find a mortgage calculator online to learn your monthly payments on a mortgage loan. You will need to fill out the mortgage amount, mortgage term and interest rate. Enter the requested information and click "calculate" to see the results. Some mortgage calculators offer an amortization feature that lets you create an amortization table for your loan.
There also are online mortgage calculators that figure the right refinancing rates for you; the best point/rate combination, and whether it makes more sense to pay off a mortgage over 15 or 30 years.
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