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Calculators and ToolsThere is no substitute to having a qualified mortgage professional calculate mortgage payments for you when you are considering a new home loan. However, in the event that you are in need of simple mortgage calculators to calculate mortgage payments on your own, feel free to use the tools on our site. In the event that you are currently in an Interest-Only loan, you should direct you attention to our Interest-Only Calculator. Often times people do not realize that with an interest-only loan, you have the ability to pay toward principal on a monthly basis, even if there is a pre-payment penalty. This calculator will show you how quickly you will pay down the mortgage by making additional payments towards the principal balance. In he event that you do have pre-payment penalty, you can pay up to, but not more than 20% of the actual mortgage balance without triggering the penalty.
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