Best Financial Calculators

This home mortgage planner consists of three sections, i.e. calculator for mortgage, amortization table and mortgage amortization chart. It is in Microsoft Excel file format for free downloading.

Calculator for mortgage payment, period, interest rate and size

The unique capability of this flexible yet powerful calculator for mortgage is that user can choose and calculate any one out of four variables of a mortgage loan.

The usual calculators for mortgage that we find in the internet allow only one calculation direction, i.e. you can calculate only installment amount based on mortgage size, interest rate and period of mortgage, OR you can calculate only the period of mortgage based on installment amount, mortgage size and interest rate, etc. If you are using one of such mortgage calculator that calculate installment amount, it is very troublesome to use the same mortgage calculator to calculate mortgage size. You will have to keep trying new data to get to the desire value.

This calculator for mortgage allows users to first choose the variable to be calculated and just key in the remaining three variables for the answer. Because of its flexibility in switching calculation among variables, it is particularly useful at the stage of considering options and making decisions. Based on various considerations you can evaluate an option.

For instance, you can

1. Find out how much mortgage you can afford based on the installment amount that you can afford, interest rate offered and tenure of mortgage that you are prepared to take up.
2. Find out how much monthly installment required based on your mortgage value after you know your house price and down payment that you can afford.
3. Verify the effective interest rate when bank officer presents you a mortgage plan with installment value, mortgage value and tenure.

It also calculates interest expense of the entire period or any period of the mortgage.

Amortization Table

The amortization table allows you to enter early repayment and to see the reduction of mortgage period.

Some banks offer lower interest rate at the beginning of the mortgage loan period. With this amortization table you can overwrite the interest rate at any month of the mortgage.

Amortization and Repayment Chart

It comes with a nice repayment and amortization chart.

Download the Flexible Planner and Calculator for Mortgage now. It is free for use. If you find it useful, you can distribute this Mortgage Calculator to others who might find it useful too. In such a way you are also helping us to grow.

Further resources for online calculators for mortgage loan:

1. Mortgage calculators from Interest.com. There are several online mortgage calculators available in this web site for various decision making purposes.
2. Mortgage payment calculator from Bankrate.com.
3. Various Foolish calculators including mortgage calculators from Fool.com.

This entry was posted on Friday, May 12th, 2006 at 9:39 am and is filed under Calculators, Mortgage Calculators. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.