Mortgage Calculators by primusboy


									Mortgage Calculators
Mortgage calculators are handheld devices much like ordinary mathematical
calculators. They are specially programmed to compute values relating to
mortgages, such as interest rates, amortizations and monthly payments.
Mortgage calculators are very useful tools to check whether the user is
qualified to obtain a loan. They work for conventional loans as well as
loans insured by the Federal Housing Administration (FHA) or the Veterans
Administration (VA). Mortgage calculators can compute the total payment
including principal, interest, taxes and insurance, called as the PITI
payment. Payments can be calculated irrespective of the time period how
it is paid – quarterly, monthly or biweekly.
Besides these, mortgage calculators can calculate the amortization
schedules on a mortgage. They can calculate balance on the mortgage
taken. There are some calculators that can calculate the future value of
a mortgage. Not only that, some mortgage calculators have rent-versus-buy
features, which can calculate display which of these two options would be
better in the long run.
The buttons on a mortgage calculator include the numeric keys from 0 to 9
and the usual keys on a mathematical calculator, such as addition,
subtraction, multiplication, division, percentage, clear (CE), equals to,
etc. In addition to these keys, there are special mortgage-related keys
such as total payment (TP), solve, recall and principal value (PV). There
is also a mode or shift button, which allows the user to switch from
finance, currency or tax modes. Most mortgage calculators also do
currency conversions and tax calculations.
Mortgage calculators are lightweight and can generally be carried in the
hip pocket (though this is not advisable). Better versions have plastic
covers that can completely cover the calculator when not in use. They
have integrated circuitry within their bodies and are operable with one
or two 1.5-volt pencil cells. Since mortgage calculators are used for
quick calculations, their buttons are usually larger in size than normal
calculators. Depending on the features present on a mortgage calculator,
they may be priced between $10 and $60.
Mortgage Calculators provides detailed information on Mortgage
Calculators, Mortgage Payment Calculators, Mortgage Rate Calculators,
Free Mortgage Calculators and more. Mortgage Calculators is affiliated
with Mortgage Information Services.

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