To help you with some of your initial calculations of homeownership costs, we are happy to provide access to the following calculators. There are a few things to keep in mind about the various calculators. - "EasyCalc" will calculate ONLY your principal and interest payments. Taxes, insurance, and perhaps mortgage insurance will also be added to determine your final payment.
- "MultiCalc" is designed to allow you to COMPARE various mortgage options, such as 15-year vs. 30 year mortgages, or payments based on various interest rates. It also is for "P&I" only--in other words, it considers only pricncipal and interest, not taxes, insurance, etc.
- "PITICalc" is the only calculator that takes taxes and insurance into account. To use it, you must know, or estimate, the correct amount to input for taxes and insurance. And it does not include amounts for Mortgage Insurance, if applicable, nor does it consider possible other costs such as homeowners' association fees or flood insurance.
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