Mortgage Calculator

Mortgage calculators are a really great tool to help anyone who has a mortgage or are considering a mortgage loan to decide weather or not they can afford the amount of the real estate they are interested in buying. 

A mortgage calculator is an automated tool that allows users to determine the financial impact of changes in one or more things concerning a mortgage loan. The major variables include the loan principal balance, the periodic interest rate compound interest, the total number of payments you would make per year,the total number of payments as well as the regular payment amounts.

The usefulness of a mortgage calculator is that you can also compare if your rate is higher or lower what your payment may or may not be. Mortgage calculators can also help you figure out if a monthly or by-weekly payment may be ideal for you as a home buyer. Mortgage calculators can also help you to see the difference between a 10 year, 15 year or 30 year loan and the interest difference you would save between them.

Another thing I love about Mortgage Calculators is that they are readily available in the form of widgets you can copy and paste the java script code to provide a mortgage calculator for your web page for your readers to use as they wish. You can even provide the java code so they can use it on their own web page as I have done here with two different mortgage calculators to chose from.

copy-and-paste the code into your pages, between the <body> and the </body> tags.

<div style="border: 1px solid #6AB6DD; width:175px;">
<object width="175" height="210">
<param name="movie" value=""></param>
<param name="allowscriptaccess" value="always"></param>
<param name="flashVars" value="style=">
<embed src="" type="application/x-shockwave-flash" flashVars="style=" allowscriptaccess="always" width="175" height="210"></embed>
<p style="background-color:#f7f7f7; border-top:1px solid #6AB6DD; margin:0; padding:2px 10px; font:9px Arial, sans-serif"><a style="text-decoration:none; color:#333;" href="">Mortgage Calculator &copy; ML</a></p>
copy-and-paste the code
copy-and-paste the code
copy-and-paste the code into your pages, between the <body> and the </body> tags.

<script type="text/javascript"><!--
mlcalc_default_calculator = 'loan';
mlcalc_currency_code      = 'usd';
mlcalc_amortization       = 'year_nc';
<script type="text/javascript" src=""></script><div style="font-weight:normal;font-size:9px;font-family:Tahoma;padding:0;margin:0;border:0;background:transparent;color:#E5E5E5;width:150px;text-align:center;" id="mlcalcWidgetHolder"><script type="text/javascript" src=""></script>Powered by <a href="" style="color:#E5E5E5;text-decoration:none">Loan Calculator</a></div>
<!-- MLCALC END -->

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Comments 4 comments

Jack Darrington 5 years ago

Quick question. I've currently got a bridge loan because I'm trying to buy a home before I've actually sold my current one. Is it possible for me to qualify for a mortgage loan at the same time I have this bridge loan?

Envoy profile image

Envoy 5 years ago from USA Author

That depends on where you go, what they require & how good your income/credit is. Most places are able to give you their requirements right up front & some right on their web site so you can decide weather they are worth your time or not. I would definitely ask about ANY application fees etc before I started any process. Banks are the worst to drag it out & not tell you right up front that you never met their requirements in the first place unfortunately their fees still have to be paid. I hope this helps. Good luck & have a great day.

calculus-geometry profile image

calculus-geometry 3 years ago from Germany

Widget calculators are nice because you can copy and paste the code into an html file and save it on your computer. If the site is ever down for some reason, you still have the mortgage calculator on your desktop or wherever. This function is also built into Excel.

One of my favorite online mortgage calcs is this one, one of very few that figures adjustable rate mortgages, which is harder to compute mathematically. You enter the starting interest rate, max interest rate, and the intervals between the rate jumps.

I also like this 4-variable calculator that solves for either the principal, monthly payment, loan term, or interest rate depending on which three variables you input. It's good for testing different combinations of factors. Like seeing what your interest rate would be if you borrowed $X and made monthly payments of $Y for Z number of months.

notedashboard profile image

notedashboard 23 months ago from Manalapan, NJ

This calculator displays really nicely on a phone.

This one is probably the most popular

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