Jan 4, 2020 – Mortgage Calculator Plus is now available to help individuals determine everything they need to know about their potential mortgage costs. Free and easy to use, the mortgage calculator is able to ascertain rates and information for a home purchase or refinancing. Mortgage Calculator Plus has received a complete website redesign and includes current mortgage rates for an easy comparison.
An increasing number of people are seeking home loans and refinancing options without fully understanding if they can afford it. Mortgage Calculator Plus utilizes a slide bar that can be set to determine purchase prices ranging from $10,000 to $1,000,000 in all 50 states.
It’s always recommended that individuals have a significant down payment, as it will have a substantial impact on mortgage rates and the amount of interest paid over time. Mortgage Calculator Plus is able to compute the amount of a loan with a down payment of zero to one of $200,000.
It pays to shop around when seeking a mortgage since interest rates can vary widely. Individuals using the new mortgage calculator can set the tool to interest rates ranging from 1.125 percent to 9.875 percent.
The term of the loan will also affect how much individuals eventually pay for their home or refinancing loan. The longer the term, the less the monthly payments will be, assuming that the lender hasn’t written in a balloon payment clause. The mortgage calculator can be set to determine loan terms of 10, 15, 20 and 3 years.
An especially useful feature of Mortgage Calculator Plus – and one that many calculators don’t include – is a FICO score determiner. It contains eight levels of FICO scores from the lowest of 350-619 to the highest of 740-850. The lower the FICO score, the higher the interest rate individuals will be charged.
The redesigned website of Mortgage Calculator Plus enables individuals to quickly compare multiple variables and determine how each element will affect their mortgage rates. The tool’s slide bars make it easy to adjust facets of the desired home loan to help determine if they can afford the mortgage, interest rates based on their FICO score, or if they may need to save more for a down payment for successful home ownership.
For more information, visit: https://www.mortgagecalculatorplus.com/
About Mortgage Calculator Plus
Mortgage Calculator Plus is a go-to tool for everything one needs to know about his future mortgage. With just a few pieces of simple information, they help a person quickly calculate his home loan and tell him if he’s able to afford the mortgage he has selected. Their fast, reliable and intuitive free mortgage calculator incorporates taxes as well as other essential information to give a home buyer the most accurate reading possible and help him discover if he can comfortably purchase the home he desires.