Category Archives: mortgage tools

Mortgage Payment Calculator

Most people’s first question, when it comes to mortgages, is “what’s my monthly payment”?  Unfortunately, many times that is the only question.  Anyway, luckily there are all kinds of resources available to quickly compute a ballpark monthly payment with a few variables like loan amount, interest rate, and length of loan (amortization).  The calculators range from very simple to very detailed, which is nice for those who really want to understand what they are getting themselves into.

http://www.mortgagecalculator.org/
http://www.mlcalc.com/
https://www.drcalculator.com/mortgage/
http://www.calcxml.com/calculators/mortgage-calculator

 

Mortgage Rates

Here are some links where you can get an idea of current mortgage rates. But what do these rates actually reflect? Well, simply put, they reflect the “price” of borrowing money against a home. Yep, the price of money… well technically credit (borrowed money), but you get the idea. Why do you have to pay extra money to get money? The answer to that is a long one and the topic for another post.

https://www.zillow.com/mortgage-rates/
http://www.bankrate.com/compare-rates.aspx
https://www.lendingtree.com/mortgage-rates
http://www.mortgagenewsdaily.com/mortgage_rates/

Any questions? Feel free to comment.