What is a Mortgage Balance Calculator?
The mortgage balance calculator is a simple financial tool that can help you to determine your mortgage balance also known as your mortgage loan balance by entering your original loan amount, interest rate, terms and original loan start date. It works a formula based on amortization schedules for your loan.
Who needs a Mortgage Balance Calculator?
Anyone who is seeking to refinance their mortgage loan or just curious about the balance of mortgage that they owe. If you are seeking to pay off your loan early, let our mortgage calculator balance your principal payoff amount for you.
How does the mortgage balance calculator work?
The loan start date is important in determining your balance of mortgage. The calculator assumes that you have made every payment starting from this date and deducts the amount of payments made from the life of the loan to equate your existing mortgage loan balance.
What other financial tools are available here?
In addition to the Debt to Income Ratio Calculator above, we have created a list of helpful financial tools to assist our users in journey toward successful money management. These calculators include:
Mortgage Calculator - also known as a Mortgage Payment Calculator is a financial tool used to calculate the Estimated Mortgage Payment of a Home Loan based on Home Value, Loan Amount, Interest Rate and other variables.
Debt to Income Ratio Calculator - or Debt Calculator is a financial tool used to calculate your Debt Ratio amount using a Debt vs. Income formula.
Extra Payments Calculator - used to determine the amount of principal you save on the life of your loan based on the amount of Extra Mortgage Payments you make.
Equity Line of Credit Calculator - an Equity Loan Calculator that you can use to determine the amount of an Equity Loan that you may qualify for based on the amount of Equity you have in your Home.
How Much Can I Afford Calculator - a tool used by people who would like to know How Much House or How Much Mortgage they can afford. Your input into the Home Calculator helps us easily determine How Much House you can afford.
Refinance Calculator - display a clear comparison between your current loan and a Mortgage Refinance Loan based on your input.