ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
20.08.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Five Ways To Benefit From Free Mortgage Loan Calculators

Author: Art Turner Author Ranking Blue | Posted: 01-05-2006 | Comments: 0 | Views: 283 | Rating:  (59) Article Popularity - Blue (?) Got a Question? Ask.
Sign Up Now!

An astonishing 80 per cent of home buyers now conduct at least part of their home search on the Internet. In response to this influx of surfing home buyers, there is now a large number of free mortgage loan calculators available online. All of these calculators share basic core functions and some of them include additional features. But they all can provide valuable insight as you navigate the home mortgage process. Let's take a look at some of the different types of free mortgage loan calculators available online, and see how we can put them to best use.

Monthly Payments

All free mortgage loan calculators are able to calculate monthly mortgage payments. All you have to do is enter your total mortgage amount and the length of the mortgage, along with the interest rate and the starting date of the mortgage. The calculator will take this information and show you the amount of your monthly mortgage payments.

Some free mortgage loan calculators include an additional feature that will let you calculate the beneficial impact of making extra payments on your mortgage. By entering additional monthly or annual amounts, or adding a one-time payment, you can predict how much earlier your loan pay-off date could occur.

Amortization

Free mortgage loan calculators can also help you figure out your amortization schedule. Whether or not your amortization schedule is based on prepayments, free mortgage loan calculators will help you compute the amount of a monthly payment.

Free mortgage loan calculators determine this by basing their calculations on your data: the principal amount borrowed, loan term, and the annual interest rate. Once the free mortgage loan calculator computes your monthly payment based on this data, you can then create the amortization schedule report.

Bi-Weekly Mortgage

Free mortgage loan calculators can also help you with your bi-weekly mortgage calculations. Making bi-weekly mortgage payments is a relatively painless way to pay additional amounts on your mortgage, saving you interest and shortening the mortgage term. Several free mortgage loan calculators can calculate what your bi-weekly payments will be and show you the amount of interest you will save.

To calculate your bi-weekly payments, total interest, and average interest each bi-weekly period, you will need to input into the free mortgage loan calculator the principal loan balance, the annual interest rate and the amortization. This should be enough for the tool to compute your savings on interest and monthly payments.

Scenarios

Here's where the free mortgage loan calculators start to get interesting. They help you answer the "what if" questions. You can compare different scenarios to see which course of action leads to the most desirable outcome. For example, you can figure out how the size of your down payment can affect your monthly mortgage payments.

Missing Variable

Free mortgage loan calculators can also help you determine missing variables of a loan. For instance, you can find out how much money you would have to earn in order to afford one.

There are many very good free mortgage loan calculators available online, each equipped with different functions. Just enter "free mortgage loan calculator" in your favorite search engine, and you'll be rewarded with millions of choices. Explore, compare, and find one you're comfortable using. It will become your tireless advisor, providing the answers you need for a good home mortgage decision.

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/mortgage-articles/five-ways-to-benefit-from-free-mortgage-loan-calculators-25585.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

For lots of great home mortgage information, visit http://home-mortgage.getmoredatanow.com.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:
Powered by Yedda 

Latest Mortgage Articles

Bad Credit Commercial Mortgage – “the Parties Over”
By: jeff rauth | 20/08/2008
If you’re a borrower with bad credit looking for a commercial mortgage I have bad news for you. Your options are greatly reduced from just 6 months ago. In general, it is getting serous out there for a lot of people that for one reason or another that have credit scores lower than 600.

Earn Money By Checking Your Mortgage Refinance Rates
By: Juhani Tontti | 20/08/2008
To refinance mortgage rates can be the best increase to your monthly income during a long period of time. Mortgage refinance rates can be lower than your present rate, especially if you have agreed it years back.

Types of Home Mortgage Loan That You Should be Aware
By: Alan Lim | 20/08/2008
Home Mortgage Loan can be fixed rate or adjustable rate. Your manner of choosing is dependent on the kind of borrower you might be.

Fixed Rate Mortgages Hold Steady Again While Arms Nudge Down
By: Ki Gray | 20/08/2008
This article looks at recent changes with mortgage interest rates.

How to Find The Best Lender To Be Able To Refinance Mortgage Rates
By: Juhani Tontti | 20/08/2008
As you may have experienced to be able to refinance mortgage rates is not that simple but with the right tool you can do it quite easily. The monthly savings from this job can be so big, that it is worth doing carefully.

Consider Five "r’s" When Looking for Ideal Mortgage Broker
By: shijina | 20/08/2008
Locating an ideal mortgage broker could not only be a daunting task, but could also bring you unexpected surprises. To avoid such before hiring one, it is very significant to shop for one that is resourceful, affordable and reliable.

Foreclosure Costs
By: Karlyn Katigbak | 20/08/2008
There are plenty of available programs to help families and homeowners who are going through financial problems and feel that foreclosure may be inevitable such as loan modifications, forbearance agreements, and other programs that depend on their particular situation. Foreclosure can affect everyone and giving up would only contribute to the growing economic distress that is currently taking place due to the nationwide foreclosure crisis.

Pros and Cons of the Deed in Lieu of Foreclosure
By: Peter Johnson | 20/08/2008
The deed in lieu of foreclosure is a misunderstood option for homeowners. The Positives are: (1) your credit will not suffer as much, (2) the quicker you are released from mortgage payments, the less you owe. The negatives are: (1) the sooner you sign the deed the quicker you move out, (2) you must 'attempt' to sell the home first and (3) you can not have any liens on the property.

More from Art Turner

Exercising Out Of The Box For Quick Results
By: Art Turner | 01/01/2008 | Health
Does your workout take into account the recent advances in the science of fat burning and muscle building? The improvements in workout methods have been remarkable and should not be ignored. Some of the most amazing progress has been seen in the fastest way to burn fat and build muscle. Supplements...

Eating Your Way To A Bad Breath Solution
By: Art Turner | 23/12/2007 | Health
Let me ask you this...have you ever brushed your teeth, flossed, even rinsed with mouthwash, and still suffered from bad breath? It can really begin to affect your self esteem. As you talk to people--even your closest friends--you see them struggle to control their reaction to your halitosis. They get...

Killing Dog Fleas--Difficult To Do But Worth The Effort
By: Art Turner | 05/12/2007 | Pets
Have you every stopped to wonder why killing dog fleas is such a big deal? In general, everyone agrees that fleas should not be allowed to continue feasting on your best friend, but not everyone knows exactly why. Knowing more about the danger that fleas represent to your dog will...

How To Get Rid Of Belly Fat: Supplements Or Exercise?
By: Art Turner | 02/12/2007 | Health
Have you learned to love your belly fat yet? I would guess probably not. Most of us who have a little extra around the middle are constantly looking for ways to lose it. Having too much belly fat is unhealthy and can have a negative impact on self-image. But not...

Aromatherapy Essential Oils: Seven Things You Should Know
By: Art Turner | 15/04/2006 | Health
Aromatherapy uses essential oils to treat medical conditions, to alleviate psychological ailments, for cosmetic purposes, and to reduce stress. The essential oils of aromatherapy have the power to enhance both your physical and mental state.

Aromatherapy: New Age Fad Or Age-Old Remedy?
By: Art Turner | 17/03/2006 | Health
Aromatherapy refers to the use of essential oils that have been extracted from plants, shrubs and trees. These essential oils can be used for a wide variety of purposes. They can be used to treat medical conditions or alleviate psychological ailments.

How to Teach Your Children to Beat Stress
By: Art Turner | 01/12/2005 | Education
Parents and teachers have the responsibility to model behaviors and teach skills that will enable children to be productive, accepting, healthy, and resilient. There are eight key lessons children should learn that virtually guarantee they will grow up to

Boost Your Emotional Marketing Potential
By: Art Turner | 07/11/2005 | Sales
Why do people buy your product? Consumers--whether they realize it or not--use up to six categories of emotional criteria when they decide to purchase your product. If you focus only on rational behavior, then you choose to ignore enormously powerful emot

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below