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Saturday January 24, 2009
 
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Welcome to the Personal Mortgage Brokers Mortgage Calculators! our mortgage payment calculators and amortization calculators are easy to use and safe and accurate. How much can you afford to borrow? What will your monthly payments be? Should you prepay the loan? Is it better to rent or to buy? How do three loans compare? What is the amortization schedule for my debt? These and other questions can be answered with some simple calculations using the set of mortgage calculators below to see what makes sense for you. Also, you might want to review the information throughout this site, particularly within the Financing Center, which includes example loan scenarios, to get a good understanding of the various types of mortgages available, the upside and down side of each, and current interest rates.

Feel free to book mark this page and come back to use our loan calculators when ever you want. If you have any questions please feel free to contact us.

Get details about what sort of loan works best for your needs:

Privacy Note: No information what so ever is sent to us when you use these mortgage calculators. None... So feel free to calculate what you want, as you want, without concern. No personal identification information is required to use these mortgage calculators!

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How Much Can I Afford?
See if Your Income is Sufficient to Qualify
Desired Mortgage for New Home

Mortgage Length

 Years
Interest %
Annual Tax
Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).
 
Summary
Monthly Principal + Interest
Total Housing Payment (tax & insurance included)
Required Salary

Your salary must meet the following two conditions:

  1. Your gross (pre-taxes) monthly salary must be greater than 28% of the sum of the monthly mortgage and monthly tax payments.
  2. Your gross (pre-taxes) monthly salary must be greater than 35% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.
 
How Much Can I Borrow?

Use the following calculator to determine the maximum monthly payment (P+I) and the maximum loan amount for which you may qualify.

Monthly Income
Salary/Wages
Other Income
Monthly Housing Expenses
Property Taxes
Hazard Insurance
Other Monthly Expenses
Auto Payment
Credit Cards and Other Payments
Loan Term and Interest Rate
Loan Term Years
Interest Rate %
 
Results
You may qualify for a maximum monthly mortgage payment (P+I) of
You may qualify for a maximum loan amount of
 
How Much Are My Payments?

Use our mortgage calculator to determine your monthly payment amount. Estimate your taxes and insurance so that these amounts will be included in the payment calculation. Enter amounts in the fields below and the mortgage calculator will give you your monthly mortgage payment amount!

Mortgage Calculator
Mortgage Length Years
Interest %
Loan Amount
Annual Tax
Annual Insurance
 

Mortgage Calculation Results
Monthly Principal + Interest
Monthly Tax
Monthly Ins
Total Monthly Payment
 
Rent or Buy -- A Scenario

This form allows you to compare renting versus buying by enterring how much you want to spend a month and how much down you would put into your house.

Change these fields as desired:
How much you want to spend each month
How much down (invested if renting)
Current Annual Interest Rate
Length of Loan (Years)
Expected Long Term Inflation (%)
Expected Long Term Investment Return (%)
Expected Long Term Tax Rate (%)
 
I Want To Compare Three Different Loans

This calculator will allow you to compute up to three loans and compare the results. Enter the first three items and the fourth is calculated for you. To move between the fields of the Calculator table use the TAB key or click with the mouse on each field.

Loan #1
# of Payments
Interest Rate %
Principal
 
Monthly Payment for Loan #1
Loan #2
# of Payments
Interest Rate %
Principal
 
Monthly Payment for Loan #2
Loan #3
# of Payments
Interest Rate %
Principal
 
Monthly Payment for Loan #3
 
How much can I save by consolidating my debt?

Use our calculator to see how much you can save (please do not include any dollar signs or commas).

Your Current Debt Arrangement
  # of Payments Interest Rate Principal Monthly Payment Total Interest  
Debt #1
Debt #2
Debt #3
Debt #3
Debt #4
Debt #5
Debt #6
Debt #7
Debt #8
Debt #9
 
Compare Your Savings with a Consolidation Loan
  # of Payments Interest Rate Total Debt Monthly Payment Total Interest  
Consolidation Loan
 
Prepayment vs. Investment

This form allows you to compare what would happen if you took one of two choices with some extra cash you have -- prepaying your mortgage each month, or investing it instead. This tries to take into account your tax situation and assumes you always itemize (even late into your mortgage when your interest will be lower.

Change these fields as desired:
How much more you have to spend each month
Current monthly payment (principal & interest only)
Current Annual Loan Interest Rate
Current Loan Balance
Loan Interest Deductibility
Expected Long Term Investment Return (%)
Expected Long Term Tax Rate (%) (Federal+State)
Investment Type
 
How much does that loan REALLY Cost?

Enter the interest rate of your loan, the quoted APR and the loan amount. This calculator will then tell you how much the loan will then cost you.

Annuity Calculator
Enter the Loan Amount
The quoted interest rate %
The quoted APR %
Length of Loan
 
How Much of a Down Payment Do I Need?
Loan information
Sales Price of Home
Down Payment Percentage %
Estimated Interest Rate %
Discount Points Paid at Closing %
Mortgage Term
Additonal Expenses
Estimated Annual Property Taxes
Est. Annual Homeowners Ins.
 
Mortgage Results
Mortgage Amount
Down Payment Amount
Discount Points
Closing Costs
Prepaids
Total Cash
Monthly Payments
Monthly Principal & Interest Payment
Estimated Monthly Property Tax Payment
Estimated Monthly Insurance Payment
Total Estimated Monthly Payment
Estimated APR %
 
Amortization Calculator

Below you'll find a simple loan calculator which allows you to input different interest rates, loan amounts, and mortgage length so you can estimate your monthly payment. Plus, you can also see an amortization schedule of a loan which will show you how much of your payment goes towards the principle and how much towards interest. This loan calculator should be used only as an estimation as it doesn't allow for taxes and insurance.

Mortgage Calculator
First Payment Year
Mortgage Amount
Interest Rate %
Mortgage Length years
Payment Frequency
     
Mortgage Calculation Results
Payment Amount
Total Interest
 
 
 
 

DISCLAIMER: The prequalification figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.

Amortization Calculators and Mortgage Payment Calculators by
Personal Mortgage Brokers.Com

 

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