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Mortage Calculators Questions and Answers

Resolved Question: Does it make a difference when a mortage is paid at the end or beginning of the month?

The prob I'm working with this a $500,000 mortage, 6% annual rate that is paid at the END of each month. If I remember right from finance class there is a difference then the standard paying it at the beginning but I can't find any mortgage calculators that let me choose the payment date. more

Resolved Question: Can you get food stamps if you own your home?

My husband just went from making $800 a week to about $300 because his hours were cut. I was thinking of applying for food stamps but didnt know if I should bother since we are fixing to buy a house. Will the house count as asset even if you dont own it outright? I know on a food stamp calculator site I found it asks for your monthly mortage payment so maybe you can still get them. I dont know. We are buying the home without a downpayment. We got a great deal on it and our payments are going to be about $630 a month. Which is about $300 cheaper than renting a 2 BR apt around here. ( I live in FL) more

Voting Question: Adjusting W4 after home purchase?

My husband and I just bought our first home. I believe the mortage interest and property tax is deductable which will result in us getting a bigger refund. I'd like to adjust my deductions right now versus waiting for the refund. Does anyone have advise on how to calculate what the new deductions or is there an online calculator that can do this? Thanks for your help! more

Resolved Question: how much do you pay for your home mortgage?

Online mortage calculators seem like they are fulll of lies. I exact same info used has be from 700 a month to over a 1000 (for a loan of about 122,000). I know taxes and interest rate will change, but about how much is your loan and what is your monthly payment? I've hear it is about 10% of your mortgage, but I have a really hard time trusting the people that make a living off of selling homes. more

Resolved Question: Does anyone know a good mortgage calculator?

I need a mortgage calculator which will give you interest paid for each year on a repayment mortage. This (obviously) decreases as it is paid off and is required if the interest is being used to claim back tax. The only ones I ever find just give the monthly repayment amount and total interest over the life of the mortgage. more

Voting Question: Is there a site which will let me calculate when my home will be paid off adding extra monthly on principal?

I want to pay an addditonal toward principal. need to find a mortage payment calculator to figure this. I want to retire (Grandkids you know) and I can paln how much to pay to reach my goal. more

Voting Question: Should I refinance a mortgage that I have been pre-paying?

I am trying to find out if refinancing a mortgage that I have been prepaying would make sense. The orginal mortage balance was 220,000 with 6% interest at 30 year amt. start date of 11/05. I have been making an additional principal payment since the beginning of the loan and currently have a balance of 206000. I am trying to find out if refinanceing at a lower rate and continuing to make my additional principal payment would make sense and at what interest rate should I refinance at? I have searched for calculator online but cant find one that fits my critera more

Resolved Question: compound interest - mortgages?

Jane wants to take out a 20 yr mortage. the interest rate is 8% compounded semi-annually. jane can afford monthly payments of $850. what is the largest mortage that she can afford? My attempt at a solution ( using a graphing calculator): N= 20 x 12 = 240 I%= 8 *PV= 102 612.70??? PMT= -850 FV = 0 P/Y = 12 C/Y = 2 PMT = END but im suppose to solve this without a graphing calculator. PV = (R(1-(1/1+i)^n)/i R = 850 n = 240 i = ???? HELP!!!!!! more

Resolved Question: How to plan and calculate loan for building a home?

I recently paid my car off and I have good credit. Not the best score, but good. I have some money saved up and live on good size farm, but I don't want to sell my land that I lease out. Plus I do have a full time job and get some money monthly for rental property--little income there. My current home is paid off--inherited and I plan to rent it out as well. I want to build a home on my farm. I am just not sure of the how to go about calculating and knowing the interest rate and all that and to know if my down payment would be adequate. Sorry, but I am clueless to this process. I tried doing an online mortage calculator, but then at the end, I had to give information to get different lender's offers. I really just want to do this myself to get an idea. Do I have to go to my bank first or is there a way to do this without contacting them first and not giving personal information to other lenders online? I think I would want a fixed rate, but I don't know the interest rates. more

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