July 27, 2007, Newsletter Issue #74: Locating a Mortgage Calculator

Tip of the Week

Mortgage calculators are wonderful tools to give you an idea of what a particular mortgage loan will cost you on a monthly, annual, and long term basis. There are many places to find some excellent versions. An excellent example is the one offered by mortgage101.com, which can be tailored for both home purchases and refinances. This model also allows you to estimate your real estate taxes and insurance cost to give you a full monthly payment estimate. Another excellent online calculator can be found at mortgage-calc.com. There is not just one calculator at this site, but a variety of choices, including debt consolidation, refinancing, amortization, and financial calculators. A third location to find an easy usable mortgage calculator is at bankrate.com. Here you can easily check current interest rates for a number of different mortgage products, which is very convenient and helpful for your estimated calculations. The website addresses of these recommendations are shown below.
www.mortgage101.com/Calculators/Index.asp?p=mtg101 www.mortgage-calc.com/ www.bankrate.com/brm/calculators/mortgages.asp There are many, many websites offering mortgage calculators of varying ease of use and accuracy. The ones mentioned herein are quite good and accurate. But, don’t be shy, you can find many others with a little web searching and you might find one you like even more.

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