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Tips to Find a Great Mortgage Calculator

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Mark Cappel
UpdatedAug 4, 2010
Key Takeaways:
  • Mortgage calculators can be used for all mortgage decisions.
  • Most mortgage calculators can help you determine the lifetime cost of a loan.
  • has tons of tips can calculators for mortgages.
Do you have any tips on Mortgage Calculator help and where and how i can use a mortgage calculator?

Do you have any tips on Mortgage Calculator help and where and how i can use a mortgage calculator?

Thanks for your question about using and getting access to a mortgage calculator. I'm not quite sure what type of loan you are seeking, and whether you need a refinance mortgage calculator or a purchase loan calculator and whether you care about lifetime cost or monthly payment, so I'll try to get you all the info we have about mortgage calculators in general.

I can point you to one very cool new Mortgage Calculator that can help you learn about refinancing and the best loans for your refi needs.

Mortgage Calculator Definition

Mortgage calculators are designed for individuals who would like to assess how much money they can afford to borrow for the purchase of a property, or to refinance a mortgage. They can also be used to compare different scenarios for which a potential borrow maybe considering. For instance, a potential borrower can compare payment or amortization schedules, interest only payments versus principal and interest payments, and much more. Mortgage calculators also give the flexibility of showing an individual how long it would take for a mortgage to be paid off if the individual chose to make additional payments towards the principal balance. Ultimately, a mortgage calculator gives the potential borrower the ability to make calculations on their own time without the need for a mortgage professional.

Mortgage Calculator Summary

If you are considering purchasing a home, or doing a refinance, a mortgage calculator will come in handy. This will help you determine whether proceeding with the process of applying for a mortgage is worth the time and effort. Taking this step can save you time and money. Mortgage calculators are especially helpful for first time homebuyers who are learning about the process of buying a home, and are trying to better understand the impact of purchasing a home will have on their finances and budget. The use of a mortgage calculator is relatively simple and fast to use.

Mortgage Calculator Tips

There are a few companies that make mortgage calculators. Texas Instruments and Calculated Industries are two of these companies. Calculated Industries makes mortgage calculators only for the mortgage and real estate industry. However, you can use mortgage calculators on various Web sites for free tools to use. If you are looking to purchase a mortgage calculator you may want to look into one that offers the "mortgage analyzer" feature. This has become a popular feature on mortgage calculators as they asses the long term potential costs of acquiring a mortgage. This feature is more suitable for providing much more analysis on adjustable-rate mortgages than other calculators.

Related Topics

To learn more about Mortgage Calculators be sure to see the refinance savings center to get no-cost quotes from pre-screened mortgage refinance providers.

I hope this information helps you Find. Learn & Save.