Mortgage rates hit record low. Should you refinance? Christian Science Monitor
03.12.09
So now may be a great time for many homeowners to turn back the clock to the 1960s and refinance their mortgages. Rates on 30-year fixed mortgages dipped to an average 4.71 percent last week, according to a Freddie Mac survey released Thursday. That was the lowest level in the 38 years the mortgage-backing agency has tracked them.
Whether you're one of those homeowners who should refinance depends on a few factors, especially how much you owe on your home and how long you plan on living there. If you're considering the move, ask yourself these questions:
1. Do I qualify? If you've got substantial equity in your home and your credit is excellent, then there's usually no problem. But if you bought at the height of the housing bubble — 2005 to 2007 — the value of your home may have declined so much that you no longer have 20 percent equity in the property, which is usually the minimum to get the best interest rates. If you're not sure, get your house appraised ahead of time, suggests Steve Thode, director of the Goodman Center for Real Estate Studies at Lehigh University in Bethlehem, Pa. Sure, you'll pay a little extra (the lender will probably demand another appraisal), but it can keep worse things from happening. "If the property does not appraise [at a high enough level] you could be rejected on your loan, which isn't a nice thing on your credit record," says Mr. Thode.
Source:
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Mortgage Calculator?
Dec 19, 2007 by peterleewaih | Posted in Renting & Real Estate
where to get mortgage calculator for housing loan with Malaysian context?
Input your data to calculate your mortgage in Malaysian context.
khek z | Dec 19, 2007
Calculation should be basically the same as any country. Just depends on add-on fees and MRI insurance. Try the link below. It shows amount in RM currency too.
http://www.ykconsultancy.com/mortgage.htm
megan1410 | Dec 19, 2007
What is the exact javascript code for a mortgage calculator?
Jan 18, 2009 by College Student | Posted in Programming & Design
Looking for a simpole but nice looking mortgage calculator to apply to a web page as well as the code
I have a script i thinki it's called mortgae amorticiser. I'll try to discover where i got it from and give you a link.
Ok cant find where i got it from, but did a google search.
try this search page to see if you can find one suitable.
http://www.google.com/search?hl=en&rlz=1T4GGLJ_enRS273RS273&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=mortgage+amortizer+script&spell=1
Where can I find a mortgage calculator to put on a web page?
Sep 03, 2006 by dolphingrl | Posted in Other - Internet
I am in the process of teaching myself how to build web pages. I am working on one now for a friends mortgage company. I need a mortgage calculator. Where can I get one?
Thanks
Any other suggestions? not exactly what I was looking for. Sorry But thanks anyway
View the source code and look for the javascript file that powers it.
robster | Sep 03, 2006
why are you confused and lonely, do you want a friend to e-mail??? joejoeyjbgd@yahoo.ie
joejoeyjbgd | Sep 03, 2006
Does anyone know a good mortgage calculator?
Apr 15, 2008 by roly | Posted in United Kingdom
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.
a month by month calculator - I always use this!!!
http://www.mortgage-calc.com/mortgage/prepay.php
John H | Apr 15, 2008
TEXET It's great for that job.
+150+ | Apr 15, 2008
Sorry but I couldn't find one which did what you want, because of course the interest rate can change over say 25 years and at the moment you cant get a fixed rate for 25 years....we claim back the tax on the interest of a repayment mortgage, which the bank calculates for us each year...can't help you further I'm afraid.
Go to Click n Go Mortgages and fill in their online mortgage calculator. There is an option to add any additional information to your query, so ask about interest paid each year.
The good thing about these guys is that the email goes straight to a human being and you will therefore get a response from a human being, who will completely understand what you want and how you want it.
Find them here: http://www.clickngomortgages.co.uk
Good luck!
james.marshall55 | Apr 15, 2008
What is the Best Mortgage Calculator for Home Equity Loans and Home Refinancing?
Mar 29, 2006 by costumes.us.com | Posted in Renting & Real Estate
I am searching for the best mortgage calculators. Interest Only calculators and simple home mortgage calculators and loan calculators. I used the ones at http://www.1mortgagecalculator.net/index2.php and they seem pretty good. Just looking for comparisons.
You may want to download free OpenOffice, which includes spreadsheet totally compatible with Microsoft Excel.
http://www.openoffice.org/ (version for Windows and version for Linux both are available to download).
There is a plenty of formulas and even macros suitable for any needs. Some macro could be downloaded from web sites of sharks.
The best solution could be also to not taking any loan at all. Saving account with 4.5% per annum, monthly payments and compound interest is your friend!!! In this way, bank gonna pay you, not vice versa. You cannot get loan with 4.5% interest, right?
So, it can get you your home in not so long time and sets you free. Your heart will be filled with joy and your kids will be grateful to you for not having any debts and financial obligations.
dottoreo | Mar 29, 2006
I found some good resources for mortgages and mortgage calculators at http://calculator-mortgage.us/
Also you can check the yahoo directory at http://dir.yahoo.com/Business_and_Economy/Shopping_and_Services/Real_Estate/Financing/Mortgage_Resources/Calculators/?o=a
Is there such a thing as a 'mortgage offset account' calculator?
Apr 13, 2007 by TJ | Posted in Renting & Real Estate
I would like to know if anyone has come across a mortgage calculator that allows you to calculate the money that goes on and off an offset account linked to a mortgage.
What would you want the calculator to do? Mortgage offset account is simply a loan tied to an account at your bank such as a savings account.
You can check out some calculators here. http://www.mortgagesum.com/mortgagecalculator/
matthewkk | Apr 15, 2007
How do you calculate what your mortgage payment will be without using a mortgage calculator?
Jan 14, 2008 by NeedInfo06 | Posted in Renting & Real Estate
Can somone show me how to calculate a mortgage payment
like for example
what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years?
Can somone show me how to calculate a mortgage payment
like for example
what is the monthly payment on a $200,000 mortgage at 6% interest over 25 years?
I need to know how to do the mathematical calculations, don't just give me the anwser.
monthly payment = interest portion + principal portion
m1=12 in us the interest is compounded monthly
(in canada m1=2, interest is compounded semi-annual)
m2=12 payment every month
YR=25
%int=6 percent annual interest
n= m2 * YR = 12 * 25 = 300
int=%int / 100 / m1 = 6 / 100 / 12 = 0.005
INT = (1 + int) ^ (m1 / m2) -1
INT = (1 +0.005) ^ (12 /12) -1 = 0.005
PV = loan = 200,000
F1 = interest portion of mortg
F1 = PV * INT = 200,000 * 0.005 = 1000
F2 = equal monthly payment factor
F2 = 1 - [1 + INT] ^ [ - n ]
F2 = 1 - [1 + 0.005] ^ [ - 300 ]
F2 = 0.77603432
PMT = monthly payment = F1 / F2 = 1000 / 0.77603432
PMT = 1288.60
Tony Q | Jan 16, 2008
1288.60
Paul C | Jan 14, 2008
I'm not exactly sure off the top of my head without using a mortgage calculator but, someone has told me to just say 1% will be your mortgage payment. So with $200,000 mortgage i would estimate your payment to be 2000/mth.
tikki | Jan 14, 2008
With mortgages, we want to find the monthly payment required to totally pay down a borrowed principal over the course a number of payments.The standard mortgage formula is:
M = P [ i(1 + i)n ] / [ (1 + i)n - 1]
Where M is the monthly payment. i = r/12. The same formula can be expressed many different way, but this one avoids using negative exponentials which confuse some calculators.
xavier p | Jan 14, 2008
1288.60 but that doesn't include taxes or insurance. This is just P&I. Also take in account if you have HOA dues.
shell | Jan 14, 2008
Easiest way to do that is to take the purchase price of the house and divide it by 100. The figure will be very close to your mortgage amount including property tax and insurance if you were paying roughly 9% interest. It's good to figure it this way too, because then you've estimated on the high end, so you know it will be less than that. If you're getting a 5% interest, than divide your figure by 50.
wifey | Jan 14, 2008
Hi NeedInfo06,
Microsoft Excel has an amortization table template that you can use. If you do not have in your computer, go to Microsoft's website. Type amortization table in the search bar. Download it from there.
NevadaHomes | Jan 14, 2008
mortgage-calculator?
Apr 18, 2008 by Ron P | Posted in Other - Business & Finance
I found this mortgage calculator a few months ago. You can even download their mortgage calculator to your desktop. check it out.
David M | Apr 18, 2008
Can anyone make me a mortgage calculator? or direct me to someone who can. thank you?
Jul 26, 2007 by thecityboutique | Posted in Small Business
I am looking for someone who can make me a mortgage calculator for my soon to be published web-site. Does anyone know a person who does this?
Try the widget at http://www.mortgagesum.com
They let you cut and paste their code into your site easily.
matthewkk | Jul 26, 2007
How do I set up a mortgage calculator in Excel?
Jun 12, 2008 by chesspl | Posted in Renting & Real Estate
What I would like to do is have 4 different fields, one each for the principal, interest rate, number of payments, and monthly payment. I'd then like to change ANY of the 4 fields, leaving one blank, and have Excel calculate whatever the missing variable happens to be in the last remaining field. How can I do this?
Thanks!
Try putting this question in the computer section. The techies should definitely have an answer for you there.
OTTAWA, ONTARIO - The Financial Consumer Agency of Canada (FCAC) today launched an improved version of the mortgage calculators available on its Web site.
Mortgage calculator: when it's worth paying early repayment charges In some cases, switching could lower your monthly mortgage payments and so justify paying the early repayment charge. This online mortgage calculator,
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