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Mortgage Loan Payment CalculatorThere are several different types of mortgage calculators. Mortgage payment calculatorA simple loan payment calculator will provide you with the payment you will have to make when you borrow a certain amount at a certain interest rate for a certain term. Principal * Interest Rate / Number of Years or Months = Monthly Payment Mortgage How Much Can I Afford CalculatorOften you can actually qualify for a payment higher than you really feel comfortable making. If your credit scores will allow you to qualify for a mortgage then the amount of that mortgage is determined by an evaluation of your debt to income ratio. This varies somewhat with different lenders. The debt to income guidelines for a FHA Mortgage Loan is 39/43. This means that your gross (pre-taxes) monthly salary must be greater than 39% of the sum of the monthly mortgage and monthly tax payments. Also, your gross (pre-tax) monthly salary must be greater than 43% of the sum of the monthly mortgage, monthly tax and other monthly debt payments. Mortgage How Much Can I Borrow CalculatorThis type calculator takes into consideration your monthly and other income, your monthly housing expense and other monthly expenses (auto payment, credit cards, etc) and the term of the loan and interest rate. From this information you will be presented with the maximum loan amount for which you can qualify to borrow. Interest Only Mortgage CalculatorIf you are interested in an interest only loan then this type calculator will allow you to determine what your interest only monthly payment will be. Standard vs Bi-weekly CalculatorThis type calculator allows you to see the interest savings and amount of reduction in the term of the mortgage if you make your mortgage payments bi-weekly vs monthly. Rent vs Buy CalculatorThis type calculator will allow you to compare renting versus buying a home. You will enter how much you want to spend each month, how much down you would put on a home, interest rate, length of the loan, expected long term inflation, expected long term investment return and expected long term tax rate. You will be given some very interesting information from a calculator like this. Try out the calculator below that meets your needs. Use our 20 Mortgage calculators to calculate your payments
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