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 Mortgage Loan Types:  Refinance  Second Mortgage  Debt Consolidation  New Purchase  FHA  Home Improvement  Reverse Mortgages  Commercial

 Loan Calculators Loan calculators can also show the difference that an extra yearly payment can make in your repayment schedule. Many lenders allow you to arrange this upfront, and it is often a good idea to do so if you are planning to make an extra payment because some lenders may have prepayment fees that penalize you for paying your loan off early. Many loan calculators allow you to plug in how many extra payments you would like to make over the life of the loan, which in most cases would be once yearly. An extra yearly payment can cut interest paid and also cut the length of the loan, often shortening the repayment period up to ten years. To get your estimated monthly payment, enter you loan amount, interest rate, and loan term into a loan calculator. If your loan is for \$150,000, with an interest rate of 7% and a term of 30 years, the loan calculator will give you an estimated monthly payment of \$997. Loan calculators can also show you the amount of interest you will have paid by the end of the payment period. In this case that amount will be \$209,263. If this amount of interest sounds too high and you are capable of paying more than \$997, shortening the repayment term can cut the interest in half. The loan calculator shows that a loan of \$150,000 with a term of 15 years at 7% will have monthly payments of \$1,348, which is \$351 more than you would pay with a 30 year repayment term at the same interest rate and amount. However, where as the total interest paid on the 30 year loan would be over \$200,000, the total interest paid on the 15 year loan is only \$92,683. This would save you over a \$100,000 in the long run. If you can afford to pay \$351 more a month, it would be important to keep the shorter repayment term in mind when looking into finding a mortgage. If having a lower monthly payments is more important, then you will probably be willing to sacrifice the additional \$100,000 paid gradually over the 30 years in order to save the \$351 monthly. Preparation can keep the search for a loan from becoming a stressful experience. There are many ways to take charge of the loan process. Before you consider a loan, you should know yourself and know the type of loan you want. Ordering a copy of your credit report can keep you from being surprised or disappointed by the loan or terms offered to you. It can also help you start planning how to fix your credit if it has been damaged. Knowing the type of loans available can help you when it comes down to deciding whether or not to close a certain loan. If you know in advance that a 15 year term on a 9% interest rate will yield a payment to high for your income, you will be less likely to convince yourself to take on a loan that will give you too much financial strain. Loan calculators can give you estimated monthly payments and help you choose which terms fit you best. Apply online to contact up to four lenders about your new loan or use our loan calculator to get an estimate on your monthly payments.

Home Lending Services
 Expert lenders compete for your busines with low rates and great loan terms Poor to Excellent credit borrowers welcome – low rate mortgage loans No mandatory credit check – let only the lender you choose check your credit Free evaluation of your borrowing options in a no obligation setting Need Cash? Considering a Home Equity Loan? Why not get cash out from your equity and refinance in one process. Select ‘Refinance’ on the application and specify your ‘Cash-Out’.
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 Loan Information   (Application fields change with Loan Type selection) Want cash and a lower interest rate or monthly payment?    Refinance again or for the first time and get cash back! Loan Type: Home Equity Loan Refinance (Cash-Out Available) Home Loan (Mortgage) Second Mortgage
 Cash-Out: Cash Out: Amount of cash you want out when you sign your refinance.
 Est. Property Value: Estimated Property Value: The estimated present market value of your home including appreciation and home improvements.
 Original Purchase Price: Original Purchase Price: The total amount of your original home loan
 Current Interest Rate: Current Interest Rate: The interest rate on your current (original) home loan %
 Current Monthly Payment: Current Monthly Payment: The amount monthly you are currently paying on your mortgage.
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