Mortgage Calculator — Find out which plan will work out best for you!
Finance calculations can become seriously troublesome, owing to a huge amount of data needed to be calculated. Even if you manage to finish off this phase you can never be hundred percent sure if what you have calculated is right. Either it’s the rates change taking place on daily basis or a simple calculation error form your side. To relieve you from this headache Landmark Finance has developed a “Mortgage Calculator”. This simulated calculator can be found online on their website. This is free and is designed so that it is extremely easy to use.
The mortgage calculator is simple to use and can perform calculations for many purposes. You can determine what kind of mortgage, fixed or variable, will be the best option for you. You can calculate how much loan you can apply for and what you can borrow exactly. All this can be found by entering some simple information.
Along with the calculator there is also a side bar displaying the current market rates for mortgage to assist you in filling up the fields.
- To find out what mortgage amount you are eligible to or the total mortgage payments you’d be making or the total interest you have already paid. Select the tab saying “How much can I afford”.
For this, you need to enter you current “monthly payment” in the relevant tab shown on the calculator and then enter the rate you are paying form the side bar. After hitting the “print report” button you will get your desired results.
- Another tab called “What can I borrow” can also be used. First enter the relevant data in the “Gross Annual Revenues” and “Total Monthly Debts” sections and then proceed to fill up the next section. Here you’ll be filling the rates referring to the sidebar and then you’ll be choosing your amortization and mortgage period.