Mortgage calculators are useful in budgeting for new mortgage spending, planning, and investments. A business mortgage calculator assists you to quickly calculate monthly payouts for your mortgage in relation to the desired interest rate, insurance payments or taxes. Mortgage calculators provide a way to reduce mistakes when making mathematical calculations.
Mortgage calculators calculate the monthly payments for your mortgage. Calculations include mortgage payments, interest payments, present value, future value and pay off-dates. Some calculators also calculate the loan amortisation amounts. Although mortgage calculators can quickly calculate various calculations, users still need to understand the various mathematical formulas necessary to perform mortgage calculations.
Bi-weekly Payment Calculator - The bi-weekly payment calculator shows savings you can make when you use a weekly payment that is accelerated. This calculation allows you to accelerate your mortgage pay-off by half of the initial amount. The bi-weekly calculator is helpful, inthat by the end of the 12-month pay period you will have made 13 monthly payments versus the original 12 payments. The bi-weekly calculator can assist you in reducing interest payments on your mortgage.
FHA Mortgage - The FHA (Federal Housing Administration) mortgage calculation determines the greatest amount you can pay for a mortgage. With an FHA loan, borrowers are given a specific limit based on their personal income and financial situation. The FHA mortgage program insures multi-family as well as single family homes.
Reasons for Mortgage Calculators - Mortgage calculators provide the user with important information regarding their mortgage loan. A good mortgage calculator is supposed to show you the specific details regarding your monthly payments and shows table with information on amortisation. A person using the mortgage calculator will get to understand more about the workings behind mortgage loans.
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