Mortgage
Enter incomings/outgoings
Mortgage Information
Your estimated monthly principal and interest payment is
Calculator Notes
1 Your estimated monthly principal and interest payment is calculated by multiplying monthly payments loan amount with (monthly payment interest value and dividing with monthly payments loan term value)
Rent vs Buying
Enter incomings/outgoings
What will it cost?
Based on the information you provided, the following represents your costs and savings over the next 30 years.
Estimated costs of renting


Estimated gross costs of buying: (includes in closing costs)  
Estimated amount in increased equity  
Estimated net costs of buying 

Estimated total savings: (not including investment related savings)


Estimated investment related savings


Calculator Notes
1 The estimated cost of renting is calculated depending on the current monthly rent and planned years to live in home.
2 The estimated gross costs of buying: (includes (i.e. 764) in closing costs) is calculated by summing up interest paid, principal paid, closing cost and years to own.
3 The estimated amount in increased equity is calculated by summing up sales price, total appreciation, total principal paid and subtracting loan amount.
4 The estimated net cost of buying is calculated by the difference between estimated gross cost of buying and estimated amount in increased equity.
5 The estimated total savings: (not including investment related savings)is calculated by subtracting the renting cost from ownership cost.
6 The estimated investment related savings is calculated by subtracting the renting cost with the ownership cost then multiplying the result with default investment rate (i.e. 0.8)
2 The estimated gross costs of buying: (includes (i.e. 764) in closing costs) is calculated by summing up interest paid, principal paid, closing cost and years to own.
3 The estimated amount in increased equity is calculated by summing up sales price, total appreciation, total principal paid and subtracting loan amount.
4 The estimated net cost of buying is calculated by the difference between estimated gross cost of buying and estimated amount in increased equity.
5 The estimated total savings: (not including investment related savings)is calculated by subtracting the renting cost from ownership cost.
6 The estimated investment related savings is calculated by subtracting the renting cost with the ownership cost then multiplying the result with default investment rate (i.e. 0.8)
Amortization
Generated Results
Calculator Notes
1 The monthly interest payment is calculated by multiplying the loan balance with
annual interest rate.
2 The principle payment is obatained by the difference of new calculated monthly payment with interest rate.
3 Remaining balance is difference of begining balance with obtained principal.
2 The principle payment is obatained by the difference of new calculated monthly payment with interest rate.
3 Remaining balance is difference of begining balance with obtained principal.
Refinancing
Refinancing Information
Estimated costs to obtain a new mortgage  
Current Monthly Payment  
Refinance Payment  
How much lower the new payment would be than the current one  
Months to break even 
Calculator Notes
1 Estimated costs to obtain a new mortgage is the closing cost which is calculated using loan amount, loan term, interest rate and downpayment.
2 The current monthly payment is calculated using the refinancing calculator which provide the refinancing new loan amount value.
3 The Refinance Payment is calculated by mulitplying the new refinancing loan amount value obtained using refinancing calculator with monthly interest rate.
4 How much lower the new payment would be than the current one is obtained by subtracting the current refinancing value by the multiple of new refinancing value and monthly interest rate.
2 The current monthly payment is calculated using the refinancing calculator which provide the refinancing new loan amount value.
3 The Refinance Payment is calculated by mulitplying the new refinancing loan amount value obtained using refinancing calculator with monthly interest rate.
4 How much lower the new payment would be than the current one is obtained by subtracting the current refinancing value by the multiple of new refinancing value and monthly interest rate.
Affordability
We estimate the maximum amount you can afford to be:
Conservative  Aggressive  

Minimum house price  
Maximum Loan Amount  
Monthly Property Tax  
Total Monthly Payments 
Calculator Notes
1 Conservative calculated based on: total deductions from the total net income 50%
2 Aggressive calculated based on: total deductions from the total net income 65%
3 The minimum house price is the estimated property value or loan amount you can afford, it is calculated by the submission of monthly payment values.
4 The maximum loan amount is the estimated mortgage amount or loan amount for which you may qualify.
5 Total monthly payments is the funds you will have available each month to make your mortgage payment and pay for all monthly home ownerships costs.
2 Aggressive calculated based on: total deductions from the total net income 65%
3 The minimum house price is the estimated property value or loan amount you can afford, it is calculated by the submission of monthly payment values.
4 The maximum loan amount is the estimated mortgage amount or loan amount for which you may qualify.
5 Total monthly payments is the funds you will have available each month to make your mortgage payment and pay for all monthly home ownerships costs.