Equal Housing Lender

Bi-Weekly

This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year--without hardly noticing the additional cash outflow. But, as your about to discover, you will certainly notice the increased cash flow that will occur when you pay your mortgage off way ahead of schedule!

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Interest Only

Interest only loans are becoming very popular because they allow you to buy a more expensive house then you would normally qualify for. You pay only the interest of the loan for a specified period (usually up to 10 years). For example: if you apply for a 30 year loan and make 10 years of interest only payments, your loan would then revert original type of loan amortized over 20 years. This flexible calculator will calculate your payment, interest rate or loan amount based on 2 of the 3 figures given.

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Refinance

This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.

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Amortization

This is a simple calculator that shows you the balance of your loan over the length of the loan. It also shows you what amount of your payment is interest, and what amount is being applied to the principal. The difference between the payment amount and the interest amount, is the figure being applied to the principal. As you can see, in the beginning more of your payment is used towards paying the interest of the loan then paying off the balance. View the Bi-Weekly calculator to see how making payments every 4 weeks instead of every month can save you thousands of dollars or take years off the term of the loan.

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Standard

Use this calculator to figure the monthly mortgage payment based on the loan amount, interest rate and length.

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Affordability

Use the calculator below to give you an idea of how much of a mortgage you can afford. However, it is meant to be a guideline, not a rule. We have many programs available that can maximize the amount of a home you can afford.

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