New Mortgage Calculator
What's New | May 15, 2016 10:29AM ET
We are proud to announce our Mortgage Calculator is now LIVE. Our Mortgage Calculator is the first of many tools to come that will serve the Personal Finance sphere.
http://www.investing.com/tools/mortgage-calculator
The Investing.com Mortgage Calculator is a great tool because it allows you to determine whether taking a mortgage is in your best interest based on your personal circumstances and finances.
There are two versions of the Investing.com Mortgage Calculator: Basic and Advanced.
Basic
The “Basic” version of the Mortgage Calculator gives you a general idea of what your mortgage payments are going to look like. The default values are common variables specific to the edition to which you are logged in, and our mortgage calculator is based on Fixed Mortgages.
One great feature is the Monthly Payment Breakdown, which allows you to track the proportion of how much interest the loan involves. Having this information gives you the ability to plan and compare other options of loans that might be best for you; for example, maybe it is better to take a loan out from a family member or a work place after you calculate what the interest over an extended period of time will be.
Another useful feature is the Payment Along The Years chart. With this chart, you can see how your payments will be allocated over the next 10 to 20 years (or however long you plan to take to pay off your loan).
Advanced
The “Advanced” mode of the Mortgage Calculator allows you to add the monthly tax and insurance – which is based on the specific state or country you live in. This variable allows you to take into account all the expenses that are involved in owning a home once you take on a mortgage.
In addition, the Advanced mode allows you to insert your Monthly Net Income, which then generates an estimate of your loan risk.
The Mortgage Calculator is currently only available on Desktop and eventually will be accessible on our mobile apps.
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