Calculate and store mortgage options. Compare multiple mortgages to see which ones are better in terms of total principal payment, term length, total interest, monthly payments, closing costs, insurance, taxes, down payment.
Individual mortgages and comparisons visualized in lots of clean, beautiful charts! Very easy to use!
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* No Internet connection needed!
You can add an Adjustable Rate Mortgage (ARM) with a 7/1, 5/1, 3/1 adjustment strategy or specify your own custom one.
Fixed Rate Mortgage (FRM) available with two types of amortization schedules:
* constant monthly payment (variable principal and interest),
* constant monthly principal (decreasing monthly payment due to decreasing interest).
Specify additional principal payments (prepayments), monthly or yearly, to save on costs, interest, or to reduce term length. You can add a few mortgages with different prepayment strategies and compare the savings in plots and tables.
The calculator includes property taxes, home insurance, PMI, closing costs, so you get a clear picture of the total cost of the mortgage.
Informative graphs and tables for: monthly payment breakdown, total mortgage breakdown, loan payment, amortization schedule by month and year, and many more.
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