Mortgage Rates CalculatorA website filled with information to help you with your mortgage rate decision.
Calculations are intended to provide estimates and are not final or binding loan amounts.
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California Mortgage Rates
The California real estate market is heating up. Find out more information about the California Mortgage RatesCalifornia Mortgage Rates
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Mortgage Rates Trend
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Mortgage Rates Calculator explained by videos
Video on "Mortgages and Interest"
sample from video 'This is Bob and Sally and they want to buy a home. They manage to save some money for a down payment. They have pretty good credit and they're watching interest rates very carefully but they still have a bunch of questions and are really not sure how much they can afford. "I could pluck some numbers into an Excel spreadsheet" said Bob, but before bob could explain his cost to income ratio matrix... '
'Interest rates are really low, about the lowest in the past 40 years and that's a big deal as you can save you a ton of money. Let's say you take out a mortgage for two hundred fifty thousand dollars at six percent. Your monthly payment is 1,498 dollars per month and at five percent its 1342 dollars per month, that is $156 dollars less and if you continue that over the life of a 30-year mortgage. It really adds up, let's seeover fifty-six thousand dollars.
Mortgage rate calculator part 2
'Wow and that is all interest so you see how lucky we are right now with interest rates so low. Just nine years ago interest rates word eight-percent. Figure that one out said Bill. Luckily Bob just happened to have his calculator on hand. "Holy smokes, the difference between five percent in and eight percent is like five hundred dollars per month or one hundred eighty thousand dollars over the life of the loan. Is that right? That can happen can it?" Bob asked with a hint of panic. Well interest rates have always flctuated. In the eighties they were between 10 and 16 percent. They settle down in the nineties around 10 percent. So that should give you an appreciation of our current interest rates will they go '
Mortgage Rates Calculator Basics
It is helpful to understand some basic terms to understand mortgage calculation
Basic Mortgage Calculator Terms
Fixed Rate Mortgage Rate Calculator
this is a calculator to help you understand what your monthly payments would be if you selected a fixed rate for the life of the repayment of the loan.
For most mortgages, payments are made on a monthly basis. This payment includes both principle and interest for a common 30 year fixed rate loan.
The term is the number of years that the loan is to be repaid. A 30 year fixed rate loan is commonly made up by making 360 equal monthly payments. The payments include both the amount of interest paid during the month of payment as well as the interest paid per month.
The interest rate of the mortgage is the same as the Mortgage Rate Today. Interest rates are applied mathematically to the amount of the loan by the borrower. Interest rates are commonly compared by people seeking mortgages to decide which bank will result in the borrower paying the lowest payments.