Mortgage calculators are a big part of understanding how much you can afford and there are many more mortgage calculators around then just your simple payment calculator. When analyzing your home loan options it’s important to compare mortgage rates, down payment amounts and home values. Even a slight variance in any of these variables can influence your decision whether or not to refinance or buy a home.

## Who needs a Mortgage Calculator?

These mortgage calculators can be used by real estate professionals as well as potential home buyers or existing homeowners. In order to find your estimated mortgage payment, the mortgage payment calculator retrieves all of the user input variables and works the data through a mathematical formula. That being said, we won’t bore you with all of the numbers and symbols used to determine your estimated mortgage payment – we will just calculate the mortgage payment for you! Get started and choose a mortgage calculator below.

**Basic Mortgage Calculator**

A simple mortgage payment calculator using the basic elements of every mortgage application including property value or purchase price, down payment, interest rate and loan amount.

**Mortgage Affordability Calculator**

Calculate mortgage payments using different scenarios to find out how much you can afford.

**Canadian Mortgage Calculator**

Canadian mortgages can be a little different than typical US mortgages. Calculate your Canadian mortgage payment online with this calculator.

**Debt To Income Ratio Calculator**

One of the biggest factors in qualifying for a mortgage is your debt to income ratio. Understand your DIT (cool slang for your debt to income ratio) online. A little hint – the lower the better.

**Interest Only Mortgage Calculator**

Most mortgages contain principal and interest payments but an interest only loan can often allow you to afford more with lower payments. Calculate payments for interest only mortgage loans online.

**Mortgage Loan with Interest-Only Period Calculator**

Curious about how much your payment will be for a home loan with an interest only period? We have a calculator for that too.

**Interest Only with Prepayments**

Prepaying principal on an interest only loan can make a substantial difference in your monthly payment obligation. How much? Calculate and find out.

**Loan Qualification Calculator**

Unless you have a pretty big wallet then you probably will need to qualify for a home loan based on a number of variables. Use our loan qualification calculator to see if you can qualify using typical standards. Of course, every bank is different but this mortgage calculator is a good guide to see where you fall.

**Mortgage Length Calculator**

Want to pay extra principal payments and reduce the term of your mortgage? Calculate the effect of extra payments on the term of your mortgage.

**Mortgage Principal Calculator**

This mortgage principal calculator can help you determine how much of a principal mortgage balance you have at any given point in your mortgage. Remember that mortgages amortize different than simple interest loans!

**Payment per Thousand Calculator**

For those statistical nerds who want to compare the dollar amount per thousand paid per payment, per year and over the lifetime of the loan. People with nervous stomachs should probably avoid this calculator.

## Calculators for Existing Mortgage Loans

**Refinance Calculator**

Mortgage interest rates are low however there are costs to refinance any mortgage so it’s a good idea to compare your current mortgage to the cost of a new home loan. You may be surprised that sometimes it’s better to keep your existing higher rate loan.

**Biweekly Mortgage Calculator**

Biweekly mortgage payments can significantly reduce the term of your loan but by how much? Calculate and find out as a few extra dollars every week may just get your loan paid a lot sooner than you think.

**Extra Payments Calculator**

Extra payments can reduce the term of your loan but just remember that almost all mortgages work by applying extra payments to the end of your mortgage and not reducing your current monthly obligation. If you still feel like making a payment then use this calculator!

**Home Equity Line of Credit Calculator**

Home equity lines can be used to consolidate debt, home renovations and more. However before you start celebrating with access to that extra cash calculate the cost of a home equity line payment and realize that it may just take years to pay it back.

**Second Mortgage or Pay PMI Calculator**

Second mortgages can help you buy property with less money down or even consolidate high interest rate bills. Use our second mortgage calculator to understand the true cost of a second mortgage loan and an estimate of your private mortgage insurance payment.

## Loan Comparison Calculators

**Buy or Rent Calculator**

Should you buy or rent a home? There is a lot of discussion about this in today’s current real estate market so calculate the true cost of buying vs. renting with this online calculator.

**Should I Pay Points?**

Paying points can have certain advantages however sometimes it can also end up costing you a lot more than expected. Compare the value of paying points on a mortgage loan with this mortgage calculator.

**What is the Real APR for a Loan?**

The APR is the only true comparison for the cost of a mortgage so understand the full cost of your closing costs and fees with this APR calculator.

**Mortgage Tax Benefit Calculator**

Estimate the tax benefit of your existing mortgage or how beneficial a new home loan will be.

**Which Loan is Better?**

Compare 2 mortgage loan options side by side to help you weigh the cost of each.