Hugh's Mortgage and Financial Calculators
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Loan and Mortgage Calculators and Tools
This explanation describes how to calculate
mortgage amortizations by hand
This explanation describes how to set up mortgage amortizations on an
Excel or Lotus spreadsheet,
including sample spreadsheets.
Use this if you make irregular prepayments.
Glenn Hubbard Refinancing Proposal Calculator -
For some reason this proposal is not very well known but it makes a lot of
sense: to allow not just those whose mortgages are under water to refinance
easily, but to allow anyone with a higher rate mortgage refinance at
current record low rates and with reduced closing costs. It makes a lot of
sense to me.
2010 Refinance Calculator - My latest
refinance calculator figures out when a new refinancing would start saving you
money compared to just taking the closing costs money and using that to pay
down your mortgage balance. I had been thinking of refinancing down our 4.91%
loan (as ridiculous as that sounds) to see what the best option is for us.
Try it out an see what you think!
MortgageSum Calculator Download - Another satisfied customer has purchased my handy,
dandy standalone Windows based mortgage calculator application. Let me know if
you want me to write something for your site too!
FICO Credit Score, LTV Interest Rate Adjustment
Calculator. I found the numbers for this calculator from a library book I
read about mortgages by
Dale Robyn Siegel, so I thought I would turn it into an online calculator.
You enter your home value, down payment (or home equity), FICO credit score
and the current market interest rate, and the calculator will estimate what
rate you would really end up paying on a mortgage in your situation.
MortgageCalculator.org downloadable calculator
MortgageCalculator.net downloadable calculator
- I customized my downloadable calculator for
some websites, and they have them on their sites. I can write one up for anybody for
just a small fee! Contact me for details.
Generic Loan Schedule PDF Generator -
This is the same as my old Generic Loan Calculator,
but now it writes the output to a PDF file so that you can save and print the
schedule much easier.
HELOC Cost Calculator Another idea sent to
me to calculate how much you "save" in taxes by paying tons of interest to
some financial institution while watching the debt dependent on your home
equity grow without end. The e-mailer told me some folks use their HELOC's like
credit cards, throwing just about anything on it under the guise of "tax
savings". No wonder our country is so debt crazy! Used correctly, HELOC's can
be great borrowing products; used poorly they just put you more in debt.
Pay off or Keep a loan? -
Did Granny leave a bundle and you can't decide whether to pay off
the mortgage or keep it and invest it all? Look here for help!
Blended Rate Calculator -
Calculate the effective rate of multiple loans.
Monthly Payments per $1,000 borrowed
Realtors and mortgage brokers used to have to use these tables all
the time to figure out what your monthly payment would be (before the
time when everybody had computers). It is still a useful table for some.
Conventional Loan with initial Interest Only Payments
This program allows you to have low interest only payment for the first
few years of a loan before it rolls into a conventional amortized
loan with higher payments.
Interest Only Loan with fixed Pre-Payment
Pay off an interest only loan quicker by paying a fixed principal payment
with each interest payment. In this case the interest paid each period
Interest Only vs Amortized Loan Comparison
Okay, I have answered one too many e-mails on interest only loans!
Here is a calculator that can answer all your questions.
This provides a very generic and flexible interface to compare two
loans especially now when the rates are so low that refinancing can take
place in a variety of ways (i.e. you can increase your loan balance and
still pay less interest each month!). I have been getting lots of refi
questions lately so I have made this comparison as flexible as possible.
Generic Loan Amortization -
It seems people want to see weekly, daily, quarterly, you name it
amortizations. Okay, I will make a generic loan amortization
where you specify the number of periods per year. Works exactly
the same using PHP!
What's Missing? Loan Calculator
This simple program finds the missing loan variable (loan amount, monthly
payment, interest rate or number of months).
calculator that shows you the
after tax interest rate of your
It also shows the after-tax return on your investment income.
Taxes do weird things to rates!
E-Mail amortization Forms --
Straight Amortization or
Some people complain that their browsers crash when pulling down an
amortization schedule. Well, now I will e-mail you one! You can either use
a full schedule without any prepayment, or start with your current loan
amount and enter any monthly payment amount you want. Having it as e-mail
makes an easier permanent record for printing, importing or just to fill up
Rule of 78 Loan Calculator
A few people have asked me about this one, so I researched it out and wrote
it up. Boy, these loans are weird!
nitty gritty of your amortization and lets you change any variable
anywhere (rate, payment, etc) This is good to track non-uniform
principal prepayments, and also ARM's where rates change. Note that
this is for 60 months (5 years) only.
calculator. It just takes a few inputs and figures out your monthly
Income Qualification Calculator - UPDATED I
calculated the numbers right but explained them out
wrong! I don't want people to think they can buy more
than they can really qualify for!
Prepayment calculator - UPDATED Take your
current balance and look at your loan reduction. Does
biweekly mortgages too. Now it allows input of your
originating loan values.
Calculator #2 - Find the APR of a loan given points,
and other included costs.
Loan Calculator - Only three inputs, loan amount,
interest and length of loan, calculates the monthly
payment for any type of fixed payment, fixed period
amortized loan (mortgage, car loan, etc).
Canadian mortgage payment calculator - Now both
calculates loan amount or monthly payment
FHA vs. Conventional 95 LTV loan calculator - This
shows two very popular plans for first time buyers and
how much house you can afford with your cash and income
Prepayment vs. Investment -- which is best for you?
If you have an extra amount you can pay each month should
you pay down your loan or invest it.
APR/Front End Calculator - See what that loan REALLY costs
Balloon Calculator - 5/25
and 7/23 Balloon Convertible Mortgages analysis
Lease Calculator - Car
leasing payment calculator to compare against loan payments
Mortgage Duration -
Calculate how long a loan will last with a set payment,
or find how much to pay to end your loan at a certain
Payment table generator - Generates a table with variable loan
amounts and interest rates.
Information on biweekly mortgage companies
Read more articles on Home Loans at Mortgage Loan Place.