How to Estimate Your Payments Using Mortgage Loan Calculators

This week, our guest blogger Jennifer tells us the benefits of using mortgage calculators when considering a home loan.  Enjoy! Online mortgage calculators will help you in planning and acquiring a home loan for your dream home.  These loan mortgage calculators are user-friendly tools which will help you in knowing your monthly payments, interest rates, pay-off dates, amortization schedule, etc.  Have a look at the top 5 mortgage calculators: Home affordability calculator: This loan mortgage calculator will give you an idea about the loan amount that you can afford to buy a house. You’ll have to mention the required loan amount, interest rate, time period, etc to determine your monthly payments and required income.   APR calculator: You will be able to calculate the annual percentage rate on your mortgage and get an amortization sheet of your monthly payments by using this calculator. You need to enter your interest rate, loan term, mortgage amount and additional costs to calculate APR. The additional costs would include the fees that you pay at the closing.       Refinance calculator: You can use this calculator to find out how much you can save by ...