The Best Mortgage Calculators On the Web! Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... Fixed or Adjustable Rate?
A fixed rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.
Definitions
- Fixed Rate Mortgage
- A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage. The payment is calculated to payoff the mortgage balance at the end of the term. The most common terms are 15 year and 30 years.
- Fully Amortizing ARM
- This is the most common type of ARM. The monthly payment is calculated to payoff the entire mortgage balance at the end of the term. The term is typically 30 years. After any fixed interest rate period has passed, the interest rate and payment adjusts annually. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. This calculator uses a maximum interest rate of 12%. Below is a list of the most common types of Fully Amortizing ARMs.
| Common Adjustable Rate Mortgages |
|---|
| ARM Type | Months Fixed |
|---|
| 10/1 ARM | Fixed for 120 months, adjusts annually for the remaining term of the loan. |
| 7/1 ARM | Fixed for 84 months, adjusts annually for the remaining term of the loan. |
| 5/1 ARM | Fixed for 60 months, adjusts annually for the remaining term of the loan. |
| 3/1 ARM | Fixed for 36 months, adjusts annually for the remaining term of the loan. |
| 1 year ARM | Fixed for 12 months, adjusts annually for the remaining term of the loan. |
- Interest Only ARM
- An Interest Only ARM only requires monthly interest payments. Since you are not paying any principal, as you are with the other two types of mortgages described above, this can lower your monthly payment. However, since your mortgage's principal balance is not decreased, you will have a balloon payment at the end of the mortgage's term. Like a Fully Amortizing ARM, an Interest Only ARM will often have a period where the interest rate is fixed, and then it is adjusted annually. An Interest Only ARM will also have a maximum interest rate that it will not exceed. This calculator uses a maximum interest rate of 12%.
- Mortgage amount
- Expected balance for your mortgage.
- Term in years
- The number of years over which you will repay this mortgage. The most common mortgage terms are 15 years and 30 years. Please note that for the Interest Only ARM you will have a balloon payment for the entire principal balance at the end of the loan term.
- Expected rate change
- The annual adjustment you expect in your ARM. The range for this calculator is minus 3% to plus 3%. Use a negative value if you believe interest rates will decrease, a positive value if you believe they will increase.
- Interest rate
- Annual interest rate for each mortgage type. Typically an ARM will have a lower interest rate than a fixed rate mortgage. The rate of an Interest Only ARM will vary by lender.
- Months rate fixed
- This is the number of months the rate is fixed for an ARM. During this period the interest rate and the monthly payment will remain fixed. The rate will then adjust annually by the expected rate change.
- Interest rate cap
- This is the maximum interest rate for this mortgage. The mortgage's interest rate will never exceed the interest rate cap.
- Monthly payment
- Monthly principal and interest payment (PI) for the Fixed Rate Mortgage and the Fully Amortizing ARM. This is an interest only payment for an Interest Only ARM.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Curb Appeal >Grooming Your Yard
Does your yard have a freshly-painted fence, a smooth, green lawn and a well-trimmed hedge? A well-groomed yard is one of the most important indicators of proud ownership. Neighborhood pride can pay impressive dividends to homeowners.
Even if you don't plan to move right away, grooming and landscaping your yard could help your neighbors sell their home. Yard work and gardening can be relaxing and rewarding hobbies that can pay off in beautiful flowers--and higher property values.
If everyone does their share to make the neighborhood look terrific, the demand for homes like yours will increase among prospective buyers, and nearby homes will also sell for top dollar. When you are ready to sell or refinance, the comparable homes in your neighborhood will support a higher price for your home.
|
| Q |
What is the most unusual maintenance project done once each year in the United States?
|
| A |
The Niagara Falls is shut down for maintenance every year in the fall by diverting the flow of water for 24 hours using a massive series of pipes constructed in 1837.
|
 See More Real Estate Trivia > |
|
|
Buyer's Only Coastal Realty
Suzanne Hefni-Pyle
806 Avenida Pico #i-327
San Clemente CA, 92672
Office: 877-902-2893
Fax: 949-492-7137
DRE License #: 01060973
Email: suzannehefnipyle@NUMBER1EXPERT.com
Buyer's Only Coastal Realty is licensed in the State of California.
Where every OC and SD county listing can be found - As a buyers only Real Estate office serving all coastal cities between ORANGE and SAN DIEGO COUNTIES, I show hundreds of properties every year. Work for the buyers side only to assure no conflict of interest for a buyer.
As a member of the National Assocation of Exclusive Buyer Agents, Buyer's Only Coastal Realty Office works exclusively for you, the buyer - providing a full, comprehensive and unbiased view of all homes on the Southern California real estate market – without giving preference to properties that serve the seller's interest.We offer 100% buyer representation. Before you let anyone show you property,call us, or you could end up having to work with an agent, you did not choose just because they had shown you a home.We protect buyers privacy when shopping for a home ! 
www.LuxuryCoastalHomeBuyers.com
is brought to you by Buyer's Only Coastal Realty
NUMBER1EXPERT in real estate for Laguna Beach, Newport Beach, La Jolla and Rancho Santa Fe, California
Read Buyer's Only Coastal Realty's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT 
