Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Using a Mortgage Calculator and other Mortgages topics.
If you are shopping for homes and want a clearer picture of what your mortgage details would be depending on the home, using an online mortgage calculator is the best way. There are thousands of websites that offer consumers the use of an online mortgage calculator and each has variations that may be beneficial for you. Here are a few places to start.
First, check with large financial websites such as BankRate.com. These types of free resource websites can give you a full range of mortgage calculators for fixed, adjustable, and interest only mortgage loans. You can usually change the values for down payment, rate, and term. If you strike out at finding these sites, jump onto the search engines such as Google or Yahoo and search for ‘mortgage calculator'. You will instantly get thousands of results.
An online mortgage calculator is a great tool, but you can also purchase a mortgage calculator from any office supply store. These calculators have pretty big instruction manuals, but if you are up for it, it is always handy when shopping for homes to be able to know numbers ‘on the spot'. Knowing right there what you can afford could make the difference between snagging that great deal and missing it.
|Jennifer Mathes, Ph.D.|