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Loan
Comparison Calculator
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Use our Loan Comparison Calculator to compare up to
three different home loans. This will help determine which interest rate, loan
terms, and loan amount is best for you. This calculator will help you compare
the monthly cost difference for differently priced homes and a few different
interest rate options. You can also determine the overall interest you will
pay, depending on which loan terms and interest rate you use. The most common
home loans are for 15 or 30 year terms.
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Tax
Benefits Calculator
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Use our Tax Benefits Calculator to determine what the
tax benefits of buying a home could be for you. Purchasing a home can give you
many new tax deduction options. Interest paid monthly and points paid upfront
are eligible to be itemized deductions on your annual taxes. Input each value
of your loan to see what your additional itemized deductions could be with a
home purchase.
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Biweekly
Mortgage Calculator
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Use our Biweekly Calculator to see how much interest
you could save with a biweekly mortgage program. With a biweekly, 30 year
mortgage program, you would pay half payments every two weeks. This is 26 half
payments per year rather than the typical 12 monthly payments. These 26 half
payments equal 13 months of payments and the extra money gets applied to the
loan's outstanding balance and can take about 7.5 years off the standard
30-year loan. This type of loan program can also take off up to 30% of the
loan's interest costs.
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Payment
Loan Calculator
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Use our Payment Loan Calculator to determine the total
amount you will be responsible for with a home purchase. This calculator adds
the cost of mortgage insurance, hazard insurance, and property taxes in
addition to your monthly loan payment
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How
Much Will My Principal Amount Be?
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Use our Principal Amount Calculator if you are
wondering how much the principal amount of your loan will be after a certain
number years. Enter the original loan amount, the interest rate, the annual
terms, and the number of years you plan to make payments. This will help you
determine how much of your monthly payment goes toward your principal balance
and how much goes toward the interest balance each year. This calculator can
also help you determine if you would like to keep your home as a short-term or
long-term investment. As the principal balance gets lower you will have more
equity invested in your home.
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APR
Calculator
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Use our APR Calculator to determine the actual APR or
Annual Percentage Rate after paying various upfront costs including points and
closing fees. These additional fees may also include the cost of processing the
loan, document preparation, and other underwriting fees.
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Mortgage
Income Calculator
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Use our Monthly Mortgage Income Calculator if you are
wondering how much monthly income you will need to purchase a home. This
calculator will help determine the required income for various loan values. The
typical mortgage payment ratio used by mortgage companies is 30% of your
monthly income should go toward a mortgage payment. Enter all the loan details
and the calculator will tell you what your monthly income should be to qualify
for a specific loan amount.
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ARM
Calculator
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Use our ARM Calculator to determine your mortgage
payments with an ARM or Adjustable Rate Mortgage loan. This calculator will
give you the payments on your current loan parameters, as well as the possible
payments in the future as the interest rate adjusts over the life of the loan.
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Loan
Amortization Calculator
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Use our Loan Amortization Calculator with the full
amortization option to determine the total amortization over the life of your
loan. This calculator will show how much of your monthly payment goes toward
the principal and interest balance throughout the entire loan period.
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Loan
Points Calculator
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Use our Loan Points Calculator to decide if you should
pay points for a lower interest rate or pay later in your loan period. This
calculator will help you figure out the cost of loan points paid upfront, and
also the amount of time it would take to recover your loan points over the life
of the loan. When paying points upfront, each point equals 1% of the total loan
amount.
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Debt
Consolidation Calculator
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Use our Debit Consolidation Calculator to determine
your monthly savings if you were to pay high interest loans in one payment.
This calculator will help you see the savings of obtaining a consolidation loan
to pay any high interest rate credit cards, car loans, or personal loans with a
consolidation loan. In most cases, a consolidation loan can also be tax
deductible. Consult with your tax adviser to determine if you would be eligible
for tax deductions with a consolidation loan
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