The first is to enter the original loan amount and date and then make adjustments to the payment history within the Payment Schedule as needed. There are a couple of ways to analyze your existing home mortgage. Choose when to start the scheduled extra payments.Select a fixed-rate or variable rate mortage.Works for both US and Canadian mortgages (via the compounding option).Automatically calculates so-called "Accelerated Bi-Weekly" payments.Estimates Property Taxes and Insurance for calculation of the PITI payment.New Features of our Home Mortgage Calculator
What will my loan balance be at the end of 3 or 5 years?.How soon could I pay off my home if I make extra payments?.How much might my monthly payment change over time if I have a variable-rate mortgage?.How does the tax deduction from paying interest change over time?.How much can I save by making extra payments?.This mortgage calculator can help you answer some of the following questions: So, if you have questions, you can hover the mouse cursor over any cell that has a little red triangle in the corner. The First Home Mortgage app allows all 3 parties (home buyer, loan officer, real estate agent) to track the progress of the home loan application process as the Home Buyer meets the milestones and conditions required to get final approval.Information about how to use our free home mortgage calculator and definitions of some of the terms are included as cell comments in the spreadsheet. If a home buyer is pre-qualified, they can print an official Pre-Approval letter to use when placing an offer on a house. The First Home Mortgage app connects Home Buyers & Realtors with Loan Officers to learn which home loan they can pre-qualify for when searching for a home to purchase.
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