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Mortgage Calculator: Simple calculator for repayment & interest only mortgages, monthly mortgage calculator.#Monthly #mortgage #calculator


Ultimate Mortgage Calculator New!

8 calculators to compare mortgages, from ditching your fix to saving for a deposit

Monthly mortgage calculator

Basic mortgage calculator

Shows the cost per month and the total cost over the life of the mortgage, including fees interest.

Total you’ll repay over full term

Could you get a cheaper rate?

Use the MSE’s Mortgage Best Buys Comparison to find the best deal for you.

Your mortgage debt over time

Your remaining debt

(assuming your interest rate stays the same)

The nerdy bit see how the debt is gradually paid off

In the first few years of the mortgage, you’re paying proportionally more interest, so the debt only reduces slowly, as the table above shows. However, making overpayments can eat into the debt and massively reduce the amount you repay in total as it means less interest overall (always check there aren’t overpayment penalties beforehand).

IMPORTANT! Please read.

This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs.

It’s important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors (please report faults above).

Assumptions

In order to create these results, we have had to make a few assumptions:

  • 1) Interest is charged monthly.
  • 2) Interest rate stays the same over the term.
  • 3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.

Martin’s FREE Printed Mortgage Help Booklets

How this site works

We think it’s important you understand the strengths and limitations of the site. We’re a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can’t guarantee to be perfect, so do note you use the information at your own risk and we can’t accept liability if things go wrong.

  • This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.
  • Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first.
  • We don’t as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it’s rarely made public until it’s too late (see the Section 75 guide for protection tips).
  • We often link to other websites, but we can’t be responsible for their content.
  • Always remember anyone can post on the MSE forums, so it can be very different from our opinion.

MoneySavingExpert.com is part of the MoneySupermarket Group, but is entirely editorially independent. Its stance of putting consumers first is protected and enshrined in the legally-binding MSE Editorial Code.

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Car Loan Calculator – Loan Payment Estimator, loan payment calculator car.#Loan #payment #calculator #car


loan payment calculator car

Loan payment calculator car

The first step is to enter the details of the proposed car loan in the fields to the left:

  • Vehicle Price – The price that you will pay for your vehicle
  • Down Payment – The amount of money that you will be putting down yourself on the car
  • Trade In – If you will be trading in your current car, put its expected value here
  • Owed on Trade – If you will be trading in and owe money on that vehicle, enter the amount here
  • Interest Rate – The interest rate that you will pay on the loan
  • Sales tax – The amount of sales tax levied in your area, this will be added to the vehicle price
  • Term (Months) – The number of months that your loan will run over, typical terms for a car loan are 36, 48 or 60 months
  • Start Date – This is the day that you sign your car loan contract, the first payment will come due one month later

Once you enter your details click “Calculate” and your loan information will be generated.

Understanding the Results

There are four main sections in the results:

Loan Summary

This section gives you a brief summary of the proposed auto loan which includes the expected monthly payment, the total cost of the loan, total interest paid over the life of the loan and the date that the loan will be paid off in full. If you are simply trying to determine the monthly payment then this section is all you will need.

Cost Breakdown Chart

This pie chart provides a visualization of the total costs showing both the principal and interest paid over the term of your contract.

Principal Balances Chart

This chart shows you the balance of your loan at the end of each month over the term. Hovering the mouse over the line will popup a tooltip with the exact balance amount.

Amortization Tables

The final section is the amortization tables, there are three tabs here, the first shows your car loan amortized yearly, the second shows the monthly amortization for people who need full details and the third provides some further information breaking down all of the costs individually.

Each row on these amortization tables gives you a snapshot of your loans position at the end of the specified year or month and tells you exactly how much principal and interest you would pay, and the remaining balance at that point in time.

Final Note

While this auto loan calculator should be highly accurate and give you a solid idea about the costs of a proposed car loan, it is not professional advise and should not be relied upon when making your final purchasing decision. Always talk to a professional directly and fully understand what you are getting into before signing a loan contract.


Calculator for Car Loan Payment, loan payment calculator car.#Loan #payment #calculator #car


loan payment calculator car

“; showtxt += (isEmpty(f.downpayment.value)) ? “Down Payment: $0.00

” : “Down Payment: $” + f.downpayment.value + “

“; showtxt += (isEmpty(f.tradevalue.value)) ? “Value of Trade/Sell: $0.00

” : “Value of Trade/Sell: $” + f.tradevalue.value + “

“; showtxt += (isEmpty(f.rebate.value)) ? “Rebate: $0.00

“; showtxt += (isEmpty(f.rate.value)) ? “Interest Rate for Loan: 0.0

” : “Interest Rate for Loan: ” + f.rate.value + ”

“; showtxt += (isEmpty(f.months.value)) ? “Number of Months for Loan: 0

” : “Number of Months for Loan: ” + f.months.value + “

” : “Home Equity Interest Rate ” + f.equityrate.value + ”

“; showtxt += (isEmpty(f.marginaltax.value)) ? “Marginal Tax Rate: 0.0

” : “Marginal Tax Rate: ” + f.marginaltax.value + ”

“; showtxt += (isEmpty(f.equityfees.value)) ? “Home Equity Fee/Charges: $0.00

” : “Home Equity Fee/Charges: $” + f.equityfees.value + “

Here’s the payment information:

” : “Monthly Payment: ” + monthly_payment + “*

“; showtxt += (isEmpty(interest_paid)) ? “Total Interest Paid: $0.00*

” : “Total Interest Paid: ” + interest_paid + “*

* NOTE: If you calculate using a home equity loan, your ‘Monthly Payment’ and ‘Total Interest Paid’ show the after-tax figures. Your out-of-pocket monthly payment likely will be higher.

“; showtxt += ” \n”; showtxt += ” “; showWindow.document.write(showtxt); showWindow.document.close(); > function calculate(form) < if (validate_fields(form)==false) return false; calculate_fields(); showresults(form); > // –> Calculator for Car Loan Payment

Auto Loan Calculator

Use this calculator to compare your financing options:

How to use the calculator:

  • Enter dollar figures without dollar signs or commas, so enter $16,000 simply as 16000

  • Enter percentages in decimal form without percent signs, so enter 8 1/2 as 8.5

  • Use the “tab” key to move from one field to the next.

  • Don’t worry if you don’t have a trade-in, or if you’re not planning to use a home equity loan–use just the first six fields to calculate a conventional auto loan; include the last three fields if you want to see results for a home equity loan. Print results for both options and compare side by side if you like.

  • When calculating for a home equity loan, fill in both “interest rate for a loan” and “home equity interest rate” fields, using the home equity loan annual percentage rate in both.

  • If you don’t know your “marginal tax rate” in the home equity section, 30 (enter 30) is a reasonable guesstimate.

    For more help calculating the best vehicle payment strategy for your circumstances, call the people at your credit union.

    Strategies for Fitting a Car Payment

    What’s your car payment threshold?

    You know, the amount of money you just can’t or won’t exceed each month for a car payment? Researchers at CNW Marketing/Research in Bandon, Ore., say the threshold for most buyers is about $328 a month.

    Your personal threshold may be higher or lower. Maybe you have other priorities now and your threshold, even stretching your budget to the max, is more like $128 a month! Here are some ways to manage your monthly payment, and the impact each will have on your personal finances.

    Down payment


    Longer loan term


    Home equity loans

    But remember up-front costs to obtain this type of loan. As with any mortgage loan, you’re likely to pay fees for an appraisal, title insurance, a title search, a credit check, and so on. On the calculator below, add fees to the total borrowed only if you roll fees into the total loan. If you pay fees out of pocket, remember that they increase your cost of borrowing even if not expressed in the calculation below.

    Another point: Some lenders only ask you to pay 2 of the outstanding balance of a home equity loan each month. As described in the section “longer loan term,” this increases your borrowing expense, although it certainly will keep payments affordable. Think of it this way — you can take longer to repay a home equity loan, but the cost of doing so (in higher total interest expense) could eat up your tax savings. To make a better comparison between a home equity loan you use to buy a vehicle and a conventional vehicle loan, use the same number of months for each. In other words, compare a 72-month auto loan with a 72-month payback on a home equity loan.

    The result won’t tell the whole story because the interest rate for a home equity loan typically will be higher than for a conventional auto loan. That means your monthly payment may be higher even if the final after-tax cost turns out to be lower. And, home equity loans often have variable rates, so be prepared for your rate to adjust upward.

    Finally, before using this type of loan to buy a vehicle, make sure you don’t have other priorities for your home equity — such as paying education expenses, starting a new business, or improving the house.

    Take the rebate

    And remember, taking the rebate often makes more sense than accepting a dealer’s low-rate financing: Usually, the low rates that most dealers advertise are for short-term loans. For example, one dealer offers 1.9 financing, but that’s only available on two-year loans. A new $20,000 car with a $2,000 down payment (10 down) will require $18,000 financing. This translates to an astounding $765 monthly payment — clearly out of reach for most buyers.

    If you choose this dealer’s rebate plan, you forego the low-interest-rate loan but get a $1,500 cash rebate. Adding the rebate to your down payment can make credit union financing very attractive, because the larger down payment reduces the amount you need to finance.


  • Amortization Calculator, amortization loan calculator.#Amortization #loan #calculator


    Amortization Calculator

    Amortization loan calculator

    Monthly Pay: $1,687.71

    While our Amortization Calculator can serve as a basic tool for all amortized items, we have specific calculators for common situations. For these specific purposes, it is probably better to use them instead.

    What is Amortization?

    Webster’s dictionary defines amortization as “the systematic repayment of a debt.” There are two general uses to amortization: paying off a loan over time, or spreading the cost of an expensive and long-life item over many periods.

    Paying Off a Loan Over Time

    When a borrower takes out a mortgage, car loan, or personal loan, they usually make monthly payments to the lender; these are some of the most common uses of amortization. A part of the payment covers the interest due on the loan, and the remainder of the payment goes toward reducing the principal amount owed. Interest is computed on the current amount owed and thus will become progressively smaller as the principal is decreased. During the earlier stages of an amortization process, larger portions of the payments made are for interest. As time goes on, the principal portion will gradually increase until the principal becomes zero. It is possible to see this course of action at work on the amortization table.

    Credit cards, on the other hand, are generally not amortized. They are called revolving debt instead, where the outstanding balances can be carried month-to-month, and the amount repaid each month can be varied. Please use our Credit Card Calculator for more information, or our Credit Cards Payoff Calculator to schedule a financially feasible way to pay off multiple credit cards. Examples of other loans that aren’t amortized include interest-only loans and balloon loans. The former includes an interest-only period of payment and the latter has a large principal payment at loan maturity, both unrelated to traditionally-structured amortization schedules.

    Spreading Costs

    Businesses like to purchase expensive items that are used for long periods of time that are classified as investments. Commonly amortized items for the purpose of spreading costs include machinery, buildings, and equipment. From an accounting perspective, a sudden purchase of expensive factory during a quarterly period can skew the financials, so its value is amortized over the expected life of the factory instead. Although it can technically be considered amortizing, this is usually referred to as the depreciation expense of an asset amortized over its expected lifetime. Use our Depreciation Calculator to depreciate items according to conventional accounting standards.

    Amortization as a way of spreading business costs generally refer to intangible assets like a patent or copyright. Under Section 197 of U.S. law, the value of these assets can be deducted month-to-month or year-to-year. Just like with any other amortization, payment schedules can be forecasted by a calculated amortization schedule. The following are intangible assets that are often amortized:

    1. Goodwill, which is the reputation of a business regarded as a quantifiable asset
    2. Going-concern value, which is the value of a business as an ongoing entity
    3. Workforce in place (current employees, including their experience, education, and training)
    4. Business books and records, operating systems, or any other information base, including lists or other information concerning current or prospective customers
    5. Patents, copyrights, formulas, processes, designs, patterns, know-hows, formats, or similar items
    6. Customer-based intangibles including customer bases and relationships with customers
    7. Supplier-based intangibles including the value of future purchases due to existing relationships with vendors
    8. Licenses, permits, or other rights granted by governmental units or agencies (including issuances and renewals)
    9. Covenants not to compete or non-compete agreements entered relating to acquisitions of interests in trades or businesses
    10. Franchises, trademarks, or trade names
    11. Contracts for the use of, or term interests in any items on this list

    Some intangible assets, with goodwill being the most common example, that have indefinite useful lives or are “self-created” may not be legally amortized for tax purposes.

    According to the IRS under Section 197, some assets are not considered intangibles including interest in businesses, contracts, or land, most computer software, intangible assets not acquired in connection with the acquiring of a business or trade, interest in existing lease or sublease of tangible property or existing debt, rights to service residential mortgages (unless it was acquired in connection with the acquisition of a trade or business), or certain transaction costs incurred by parties to a corporate organization in which any part of a gain or loss is not recognized.

    Business Tax Purposes

    In the U.S., amortization is a legal expense of doing business and can be utilized to reduce an organization’s taxable income, which many companies take advantage of. Depreciation, which can be defined as the amortization of tangible assets, is found on most companies’ income statements as an expense that is generally tax deductible. Depending on each company and what their business entails, tangible assets depreciated can be factory machinery, trucks, and various equipment. Intangible assets can be any of the examples listed above excluding the exceptions right underneath. All amortizable assets are disclosed on Form 4562 provided through the IRS where new assets are listed first, and then subsequent assets that are in the midst of an amortization schedule from previous years. The calculated results are then transferred to the relevant tax return forms, depending on type of business such as sole proprietorship or corporation.

    Amortizing Startup Costs

    An exception to amortization in business tax are business startup costs, which are defined as costs incurred to investigate the potential of creating or acquiring an active business and to create an active business. They must be the expenses deducted as business expenses if incurred by an existing active business, and must be incurred before the active business begins. Examples of these so-called costs include consulting fees, financial analysis of potential acquisitions, advertising expenditures, and payments to employees, which all must incur before the business is deemed active. According to IRS guidelines, initial startup costs must be amortized, and $5,000 can be deducted during the first tax year of the business.


    Car Loan Calculator – Loan Payment Estimator, car loan payment calculator.#Car #loan #payment #calculator


    car loan payment calculator

    Car loan payment calculator

    The first step is to enter the details of the proposed car loan in the fields to the left:

    • Vehicle Price – The price that you will pay for your vehicle
    • Down Payment – The amount of money that you will be putting down yourself on the car
    • Trade In – If you will be trading in your current car, put its expected value here
    • Owed on Trade – If you will be trading in and owe money on that vehicle, enter the amount here
    • Interest Rate – The interest rate that you will pay on the loan
    • Sales tax – The amount of sales tax levied in your area, this will be added to the vehicle price
    • Term (Months) – The number of months that your loan will run over, typical terms for a car loan are 36, 48 or 60 months
    • Start Date – This is the day that you sign your car loan contract, the first payment will come due one month later

    Once you enter your details click “Calculate” and your loan information will be generated.

    Understanding the Results

    There are four main sections in the results:

    Loan Summary

    This section gives you a brief summary of the proposed auto loan which includes the expected monthly payment, the total cost of the loan, total interest paid over the life of the loan and the date that the loan will be paid off in full. If you are simply trying to determine the monthly payment then this section is all you will need.

    Cost Breakdown Chart

    This pie chart provides a visualization of the total costs showing both the principal and interest paid over the term of your contract.

    Principal Balances Chart

    This chart shows you the balance of your loan at the end of each month over the term. Hovering the mouse over the line will popup a tooltip with the exact balance amount.

    Amortization Tables

    The final section is the amortization tables, there are three tabs here, the first shows your car loan amortized yearly, the second shows the monthly amortization for people who need full details and the third provides some further information breaking down all of the costs individually.

    Each row on these amortization tables gives you a snapshot of your loans position at the end of the specified year or month and tells you exactly how much principal and interest you would pay, and the remaining balance at that point in time.

    Final Note

    While this auto loan calculator should be highly accurate and give you a solid idea about the costs of a proposed car loan, it is not professional advise and should not be relied upon when making your final purchasing decision. Always talk to a professional directly and fully understand what you are getting into before signing a loan contract.


    Car Loan Calculator – Loan Payment Estimator, loan calculator car.#Loan #calculator #car


    loan calculator car

    Loan calculator car

    The first step is to enter the details of the proposed car loan in the fields to the left:

    • Vehicle Price – The price that you will pay for your vehicle
    • Down Payment – The amount of money that you will be putting down yourself on the car
    • Trade In – If you will be trading in your current car, put its expected value here
    • Owed on Trade – If you will be trading in and owe money on that vehicle, enter the amount here
    • Interest Rate – The interest rate that you will pay on the loan
    • Sales tax – The amount of sales tax levied in your area, this will be added to the vehicle price
    • Term (Months) – The number of months that your loan will run over, typical terms for a car loan are 36, 48 or 60 months
    • Start Date – This is the day that you sign your car loan contract, the first payment will come due one month later

    Once you enter your details click “Calculate” and your loan information will be generated.

    Understanding the Results

    There are four main sections in the results:

    Loan Summary

    This section gives you a brief summary of the proposed auto loan which includes the expected monthly payment, the total cost of the loan, total interest paid over the life of the loan and the date that the loan will be paid off in full. If you are simply trying to determine the monthly payment then this section is all you will need.

    Cost Breakdown Chart

    This pie chart provides a visualization of the total costs showing both the principal and interest paid over the term of your contract.

    Principal Balances Chart

    This chart shows you the balance of your loan at the end of each month over the term. Hovering the mouse over the line will popup a tooltip with the exact balance amount.

    Amortization Tables

    The final section is the amortization tables, there are three tabs here, the first shows your car loan amortized yearly, the second shows the monthly amortization for people who need full details and the third provides some further information breaking down all of the costs individually.

    Each row on these amortization tables gives you a snapshot of your loans position at the end of the specified year or month and tells you exactly how much principal and interest you would pay, and the remaining balance at that point in time.

    Final Note

    While this auto loan calculator should be highly accurate and give you a solid idea about the costs of a proposed car loan, it is not professional advise and should not be relied upon when making your final purchasing decision. Always talk to a professional directly and fully understand what you are getting into before signing a loan contract.


    Current Interest Rates on Home Loans, Savings, Car loans – CD Rates, interest loan calculator.#Interest #loan #calculator


    Today’s Interest Rates and Financial Advice:

    Interest loan calculator

    Financial Advice

    Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

    November 14th 2017

    The average cost of financing a new or used car or truck has stayed low over the past year, making auto loans a bargain by any historical measure. And buyers with reasonably good credit can always take advantage of the discount loans automakers are offering on many models.

    November 13th 2017

    Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.

    November 13th 2017

    Here’s how to make all of the right decisions so that you’ll save more, invest wisely and take full advantage of all the tax breaks to build your retirement nest egg.

    November 10th 2017

    It’s not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

    November 10th 2017

    You’ve scouted out the best mortgage rate and fought hard to get the best price on your new home. But your bargaining shouldn’t stop there. Here’s how you can save on everything from settlement fees to title insurance.

    November 8th 2017

    Interest loan calculator

    Interest ing Snapshot

    Individual retirement accounts, or IRAs, are a great way to build financial security for you and your family. They’re easy to open and our simple strategy helps you make all the right decisions now, and in the years ahead.

    Interest loan calculator

    Interest loan calculator


    Car Loan, Barclays, car finance calculator.#Car #finance #calculator


    Car loan

    Driving a better deal with a loan

    When it comes to buying your next car, knowing you’ve got the money in your back pocket can help you get a better deal.

    Loans are subject to status. Early settlement fees apply.

    ✔ Check to see if you have a personalised price quote 1

    ✔ Comes with a price guarantee (conditions apply)

    ✔ Easily calculate your potential repayments – all before taking a test drive

    0 APR Representative

    over 2-5 years. (Your rate may differ 2 )

    Why get a car loan with us?

    Discover your loan rate before taking that test drive

    Knowing how much you can borrow really helps when hunting for a new or used car. And unlike some other lenders, in many cases we can give you a personalised price quote up front – with no impact on your credit score.

    You can check to see if you have a provisional loan limit before you apply. If you have a current account with us, simply log in to Online Banking or Barclays Mobile Banking, if you’re registered 1 .

    More bargaining power – sellers beware!

    It’s quick and easy to apply and, if your loan application is approved and you’ve signed your loan agreement online, the money is usually transferred to your current account straightaway 3 . This could give you more bargaining power in the showrooms and forecourts, as you’ll have the cash to hand.

    If you take out a Barclayloan for your car, and another lender offers you a like-for-like unsecured loan with a lower APR, you can claim under our guarantee – within 30 days of the date we signed your Barclayloan agreement. We’ll reduce the interest rate to produce an APR equal to the competing offer and recalculate your monthly repayments to reflect the reduced interest rate. Please see our full price guarantee terms and conditions.

    Fixed monthly repayments

    This could help you budget.

    Choose your payment term

    Depending on the loan amount.

    Already have a Barclayloan and need more funds? You can apply to increase your borrowing with us. If you just want to take out a second loan instead of topping up, that could be an option too.

    Repaying your loan early

    You have the right to repay your loan early, in part or full, at any time. We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.

    Eligibility

    You may be eligible to top up your Barclayloan online if you:

    ✔ A Barclays current or savings account, mortgage or Barclaycard

    ✔ To be aged 18 or above

    You can use your loan for almost anything, apart from:

    • Business reasons
    • Investments, including buying stocks and shares
    • Timeshares
    • Purchasing property (home improvements are fine)
    • Gambling-related expenses
    • Repaying CCJs (county court judgments)
    • A purchase made by combining this loan with any others

    Resume an application

    If you’ve already started a loan application and have saved your progress, you can pick up where you left off.

    If you applied via Online Banking

    Log in to Online Banking here, and we’ll take you straight to your saved application.

    If you used our online application form

    If you started your application via our online form, we’ll have sent you an email with your reference number. You can enter the number here.

    Our lending commitments and what we ask of you

    As a lender, we have a responsibility to act fairly and as part of this we have committed to follow the Standards of Lending Practice. This note sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

    • We will lend responsibly and aim to provide a product that is affordable for you.
    • We will provide you with information about our products and services and how they work, in a clear and understandable way, so that you can decide what’s best for you and your needs.
    • We will endeavour to make sure our products and services offer, wherever possible, the flexibility to meet your needs.
    • We will treat you fairly and reasonably at all times and make sure that you are provided with a high level of service.
    • If you tell us about any inaccuracies, for example around the personal information we hold about you, we will act quickly to put it right.
    • We will always aim to help you if we see, or you tell us, that you are having trouble financially. We will seek to understand your overall circumstances, try and identify options that you can afford and where appropriate, provide a reference to free debt advice.

    What we ask of you

    • We ask you to think carefully about whether you can afford to repay the money you want to borrow and to be open in your dealings with us.
    • Take care of any cards, PINs, online log-in details and other security information to help prevent fraud and help us to protect your accounts.
    • Tell us as soon as possible if your card has been lost or stolen, or if you know or suspect someone is misusing your confidential information e.g. your PIN or online log-in details.
    • Carefully check your account statements to make sure they are accurate. If anything isn’t right, please get in touch with us.

    Please let us know if

    • Your contact details change, so we can keep our records up to date.
    • Your circumstances change, particularly if what’s happened is likely to cause you difficulties in managing your account or financial problems.
    • You think that you won’t be able to keep up with your repayments. The sooner you do this, the more likely it is we’ll be able to find a way to help you.

    We would also encourage you to refer to the terms and conditions associated with your current account, credit card or personal loan.


    Mortgage Calculators, Mortgage Calculator Canada, free mortgage calculator.#Free #mortgage #calculator


    Mortgage Calculator Canada

    Make informed decisions about your next home purchase by using our simple mortgage calculators. It’s easy!

    Calculate Your Payments with Today’s Rates

    • 1 Yr Fixed – 2.69% – Try this rate
    • 2 Yr Fixed – 2.79% – Try this rate
    • 3 Yr Fixed – 2.48% – Try this rate
    • 4 Yr Fixed – 2.89% – Try this rate
    • 5 Yr Fixed – 2.74% – Try this rate

    Rates last updated on 16/11/2017

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    It’s good to understand how your future looks like. Using this tool, you can determine the remaining balance of your mortgage after several of your regular mortgage payments.

    Mortgage Length Calculator

    What would your overall savings look like if you shortened the length of your mortgage by making larger payments? Take a look with our Mortgage Length Calculator.

    Loan Comparison Calculator

    Compare and contrast your different loan options and figure out which one is the better deal.

    Additional Payments Calculator

    By putting more money towards you mortgage payments, you will see your mortgage reduced. Use this to calculate how mortgage prepayments affect your overall mortgage.

    Interest Only Calculator

    Want to see how interest only payments look like? Then use this calculator and evaluate the results.

    Payment per Thousand Financed Calculator

    You borrow money for a mortgage loan, but how much are you actually paying for every $1000 of your loan? Determine that here.

    Interest only with Additional Payments Calculator

    Interest only payments can be the cause of a great reduction in your mortgage payments, what what if you made additional payments (towards your principal)? Determine how much you can save with this tool.

    From the blog.

    When you find yourself in seemingly insurmountable debt, working on building your credit score and saving money at the same time can seem like an impossible feat. As you struggle to climb to the top of the mountain of bills, it seems like a never-endin.

    Another year is here and so are the many resolutions that accompany the New Year trends. We all know that nine out of 10 times resolutions are not kept and so we end up with broken promises and a series of disappointments. When resolutions are too high.

    While several items in Canada remain to have low interest rates, one sector is on the rise. Homeowners can expect to see a rise in mortgage interest rates later in 2013. For quite some time, interest rates were staying right around 2.99% for qualified .

    MortgageCalculatorCanada.com aims to provide its users with the best mortgage tools and calculator resources on the web. We are proud to offer our customers with a complete set of mortgage analysis resources to assist them in preparing their financial futures. We recognize and value the importance of home loans and the significance such transactions can have on one’s life. We hope that our extensive set of resources and information will help you in your search for a home mortgage and a better future. Our tools take your income, budget, loan amount and payment period into consideration to provide you with personalized solutions for your mortgage.

    If you require any assistance or explanations of any of our tools, or if you’re ready to make the next move and obtain a mortgage for a home, do not hesitate to contact us. An experienced mortgage professional is ready to assist you with all of your needs.

    Canadian Mortgages: Learn the Basics

    Purchasing a home in Canada can be a complicated process, but it doesn’t have to be. Mortgage Calculator Canada recognizes and understands the difficulties homebuyers face. The information below, in conjunction with our mortgage calculator tools, will facilitate the process of understanding and applying for your mortgage.

    Variable Rates vs Fixed Rates

    The first thing you need to know about mortgages and mortgage interest rates is the difference between a variable mortgage rate and a fixed mortgage rate. A fixed mortgage rate stay constant (unchanged) through the term length of a mortgage. A variable rate fluctuates over time. As the prime rate (set by the Bank of Canada) changes, the variable rate will change with it. When the prime rate rises, a larger portion of your mortgage payment will go to interest and when the prime rate falls, a larger portion of your mortgage payment will go to principal.

    Mortgage Down Payment

    A mortgage down payment is a sum of money that is collected to put down towards the purchase of a new home. It is not required in all cases, however, in the case that it is, there is a minimum. How can a down payment affect your mortgage? Well, if you do provide a down payment, it is used to calculate the maximum price of a home you can afford, it is used to calculate the size of your mortgage and the mortgage payments, as well as the amount of CMHC insurance you have to pay. To qualify for a mortgage with no down payment, you need a credit score of at least 680.

    Open Mortgage, Closed Mortgage – What’s the difference?

    An open mortgage is a mortgage that can be paid out at any time without financial penalties. You are also able to make additional mortgage payments with no financial penalties. Typically, open mortgage terms range from 6 months to 1 year and can have either fixed or variable mortgage interest rates. On the other hand, closed mortgages have lower interest rates than open mortgages. Closed mortgage terms can range from 6 months to 10 or more years. You are not able to pay out a closed mortgage early with no penalty although with most lenders you are still allowed to pre-pay up to 20% of your original principle balance every year.


    Loan Calculator and Payment Schedule, Not a Toy, interest calculator loan.#Interest #calculator #loan


    Loan Calculator

    Since you may have happened upon this loan calculator to calculate a monthly payment, I’ll cut to the chase. You’ll only need to enter three numbers, and you can leave the other dozen or so options untouched.

    Here’s all you need to do.

    • Click clear and enter values for:
      • Loan Amount
      • Number of Payments
      • Annual Interest Rate
    • Leave Loan Payment Amount set to 0.
    • Click either Calc or Payment Schedule.

    There you have it. Now you have what you need.

    This calculator though offers users so much more. Spend a few minutes with it, and you’ll see. More below.

    Will making small, extra payments save me money?
    Will paying half the monthly payment every other week save interest charges?
    Buying or selling real estate?

    VERY IMPORTANT – You must enter a 0 if you want a value calculated. Some users have been frustrated by this. They want to know why the calculator does not just recalculate a payment if they have changed the loan amount, interest rate or term.

    This is because we want the calculator to be able to create an amortization schedule using whatever parameters you want to use. This behavior is a feature! After all, there is no such thing as a correct loan payment. The payment amount is correct as long as both the lender and debtor agree to it!

    ABOUT DATES – This calculator now allows irregular length first periods. That is, the calculator calculates the exact amount of interest due even when the initial period is shorter or longer than the other scheduled periods. This will result in payment amounts as well as interest charges that do not match other calculators. If you want to match other calculators then set the Loan Date and 1st Payment Date so that the time between them equals one full period as set in Payment Frequency . Example: If the Loan Date is May 15th and the Payment Frequency is Monthly, then the 1st Payment Date should be set to June 15th, that is IF you want a conventional interest calculation. See the end of the Help text for some more details.

    Of course, you can always leave the dates set as they are when the calculator loads.

    Much More Than a Payment Calculator

    Since the calculator will solve for multiple unknowns, it can easily be used to answer the following questions:

    • How much can I borrow?
    • What would my payment be?
    • What is the lending rate?
    • How long will it take to pay off my loan?
    • What date is my loan paid off?
    • NEW – what is the impact of extra payments?

    Interest calculator loan

    See the payment schedule for total interest saved.

    Loan Calculator Help.

    This calculator will solve for any one of four possible unknowns: Amount of Loan , Total Scheduled Periods (term), Annual Interest Rate or the Periodic Payment .

    Enter a ‘0’ (zero) for one unknown value.

    The term (duration) of the loan is a function of the Total Scheduled Periods and the Payment Frequency . If the loan is calling for monthly payments and the term is four years, then enter 48 for the Total Scheduled Periods . If the payments are made quarterly and the term is ten years, then enter 40 for the Total Scheduled Periods .

    The Amortization Method should be set to Normal (level payments) unless you have a specific reason to set it to another method. Fixed Principal causes the amount allocated to principal to be the same each period which result in decreasing payments.

    If the terms of the loan call for a 0% interest rate, then the Amortization Method must be set to No Interest, otherwise entering a zero for Annual Interest Rate? will cause the calculator to calculate an interest rate. Selecting No Interest, also lets the user set the payment amount to 0 to tell the calculator to calculate it.

    When the first period, the period of time between the loan date and the first payment date is longer than one full period, there will be interest due for the extra days . This is known as odd day interest. Example: if the loan date is March 24 and the first payment date is May 1, then there are 8 odd days of interest – March 24th to April 1st. How the odd day interest is calculated and collected is controlled with the Long Period Options. By default, the odd days interest is shown being paid on the loan date.

    Conversely, if the time between the loan date and first payment date is less than the payment period set, then the first period is said to be a short initial period and the first payment will be reduced due to less interest being owed. How the payment amount and interest is calculated for a short period is determined by the Short Period Options.

    On a more general note, we have been discussing details about loans, some structured with unusual features, over several decades. At this point, we believe our software calculators can create a schedule for any structured settlement loan that exists. If you have a loan with special requirements, please ask.

    Hopefully, you’ll find this loan calculator as well as all the financial calculators on this site to be useful tools. Why not take another sip of your favorite beverage and explore for a few minutes? Start by checking out The Reading Room. Here you’ll find a half dozen articles, written by professionals, about money.