Interest Only Mortgage Calculator and Early Pay Off and Bi Weekly Payment Calculator
These mortgage payment resources are provided for your home mortgage planning.
Choosing the right home mortgage is not a matter finding a temporary solution to a temporary cash flow problem but rather a matter of long time planning.
Interest Only Mortgage Loan Calculator
How much will my interest-only mortgage loan payments be?
If you originally qualified for a home mortgage with a lower income and have a higher income now it is best to start on a bi weekly mortgage payment plan or calculate the equivalent monthly payment.
Mortgage Pay Off Goal Calculator
How much will I need to pay each month in order to payoff a my mortgage by a given date?
When it comes to obtaining a home mortgage, in most cases our attention to detail lapses as soon as we think that we have obtained the best deal there is.
As time goes by and depending on real estate market conditions and prevailing interest rates we may or may not do a refinance or obtain a home equity line of credit and put the matter on the back burner.
The investment we make in our home is just about the biggest investment most of will make in our lives and yet very few actually spend time trying to figure out how to manage our mortgage payments which happen to be the biggest monthly expense for most of us and just about the most important.
Planning for retirement must include planning an early pay off the existing mortgage or else it is a waste of time as our home has the potential of appreciation and the interest saving are equivalent to certain interest earned as oppose to any other savings and investment plan where the income is uncertain.
It is important to note that you can not unilaterally decide to make interest only or bi weekly payments on your existing loan and that the conversion is going to need a refinance.