Top 5 mortgage calculators

Here are some top mortgage calculators that you can use to estimate monthly payments, compare different loan scenarios, and understand the costs involved in taking out a mortgage:

1. Bankrate Mortgage Calculator: Bankrate offers a comprehensive calculator that allows you to input details such as loan amount, interest rate, and term length to calculate monthly payments. It also provides an amortization schedule and options to include extra payments.

   • Bankrate Mortgage Calculator

2. Zillow Mortgage Calculator: Zillow provides a simple and intuitive mortgage calculator that helps you estimate monthly payments, property taxes, and homeowners insurance. It also offers an affordability calculator to see what you can afford based on your income.

   • Zillow Mortgage Calculator

3. NerdWallet Mortgage Calculator: This calculator helps you understand the breakdown of your mortgage payments and includes options to adjust for homeowners insurance, property taxes, and PMI (private mortgage insurance).

   • NerdWallet Mortgage Calculator

4. Quicken Loans Mortgage Calculator: This tool allows you to calculate monthly mortgage payments and compare different types of loans. It also provides information on refinancing and home equity loans.

   • Quicken Loans Mortgage Calculator

5. Mortgage Calculator.org: Offers a variety of calculators, including basic loan calculators, refinance calculators, and amortization schedules. It also includes tools for determining affordability and interest savings from additional payments.

   • Mortgage Calculator.org

These calculators can help you plan and budget for your mortgage by providing insights into your potential monthly payments and the overall cost of the loan.

By George Tesfa at Commercial Partners of Texas