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					  A mortgage calculator is a program used to
    help home buyers establish their monthly
   payment on their mortgage using variables
    such as principal, interest rate, and term.
 Mortgage calculators are, thus, essential tools
 for home buyers. Here are their different uses
            and their various types.




remortgage calculator
During the early process of applying for a mortgage, you will find that a
mortgage calculator is a very valuable tool you can use to: - Determine
the amount of mortgage and the price of a house you can afford based
on your income and debt information - Calculate your monthly mortgage
payments based on loan amount, interest rates and other loan terms -
Compare the costs or real interest rates between several different
mortgage loans - Compute extra payments on your monthly mortgage
that enable you to pay off your mortgage faster - Calculate your
payments on debt consolidation mortgage loans to get an idea of your
monthly savings - Check how you can refinance the loans you have by
working out the amount you can afford to borrow and exactly how much
your repayments are going to be using time scales and interest rates -
Make comparisons with other mortgage products, both fixed and
adjustable - Make amortization schedules and tables using the amount
and interest as basis - Calculate when it is sensible to refinance your
home Therefore, by using a mortgage calculator, you can most certainly
get good and precise information about the actual mortgage loan All you
have to do is to enter the required figures in the mortgage calculator
provided in most lender web sites
 Make sure you're getting a lot of options by using another company's
mortgage calculator By doing so, you will find out that there are different
choices for a loan in other companies
 To find the best remortgage calculator one, you have to make a number
of searches and several calculations using the appropriate mortgage
calculator There are different types of mortgage calculator
 Here are some of them: Adjustable Rate Mortgage Calculator -
Determines the monthly mortgage payments on an adjustable rate
mortgage (ARM) - Evaluates the maximum mortgage payment you can
expect if your ARM rate has reached its highest point - Calculates the
total amount of interest you will be paying over the term of the loan,
together with your total payment and amount ARM vs Fixed Rate
Mortgage Calculator - Compares the monthly mortgage payments for
each kind of loan - Evaluates fixed rate mortgage payments to both fully
amortizing ARMs and interest-only ARMs Interest Only Mortgage
Calculator - Determines the amortization schedule for an interest-only
mortgage - Assesses how principal payments made to lessen the
mortgage loan balance will influence the amortization schedule Maximum
Mortgage Calculator - Allows you to key in your monthly income and
monthly obligations so you can calculate the maximum monthly mortgage
payment and mortgage amount you can afford - Helps you determine the
way interest rates can affect the mortgage amount you can afford With
the proper use of a mortgage calculator, you are assured of making
sound mortgage loan computations
 These calculations, in turn, are valuable in helping you come up with
better mortgage loan decisions
remortgage calculator

				
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posted:7/16/2012
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Description: payments based on loan amount, interest rates and other loan terms -