Available online are several types of mortgage calculators based on use. As market competition continued to become stiff, brokers and lenders tried to become innovative when it comes to their approach to attracting customers. One innovation they came up with is the mortgage calculator. In an effort to push ‘transparency’ on the computation process, they created different types of mortgage calculator that would allow customers to estimate the total tag price of the loan product they seek. As time passed on, these calculators grew more complex in the sense that they become more precise with their computations. Now, almost all mortgage websites host mortgage calculators.
Among the most popular mortgage calculators found online are the borrowing power calculator, Lenders Mortgage Insurance (LMI) calculator, variable vs. fixed rate calculator, extra repayment calculator and the basic home loan repayment calculator.
Borrowing Power Calculator
This mortgage calculator helps consumers determine the loan amount they can comfortably borrow (hence the borrowing power). By knowing a certain range of loan amounts that you safely borrow based on how much you earn and spend every month, you can avoid committing the mistake of borrowing outside your means.
Lenders Mortgage Insurance Calculator
Banks and non-bank lenders typically allow their clients to borrow up to 80% of the property’s overall amount. However, there are instances when the borrower needs to borrow beyond the allowed limit, sometimes even up to 100% of the property’s full purchase price. This prompts the lender to oblige the borrower into paying for the Lenders Mortgage Insurance, which will serve as the lender’s protection against probable financial loss in case the borrower fails to pay the mortgage. Using the LMI calculator, you’ll be able to figure out the lowest premium should you be able to secure an LMI waiver or discount.
Variable vs. Fixed Rate Mortgage Calculator
During the initial phase of the mortgage selection process, you will probably be stuck between getting a fixed rate loan or a variable rate loan. The variable rate vs. fixed rate calculator allows you to compare your expenses in payments in relation to the official interest rates and the type of mortgage you choose between the two.
Extra Repayment Calculator
The extra repayment calculator is one of the simplest types of calculators out there. This is used to compute the savings you’ll be able to make if you decided to come up with additional payments on top of your regular monthly repayment. In short, this calculator gives you a glimpse of just how your extra payments will affect your financial flow.
Basic Repayment Calculator
The basic home loan repayment calculator allows you to simplify your approach to mortgage decision-making because it gives you the ability to estimate your actual mortgage repayments for a particular home loan.
You are not at the mercy of an automobile salesman when it comes to figuring out your monthly payment because an auto loan estimator can help. You should make sure you know how much a car is really going to cost you and an auto loan estimator can help you see the difference in your monthly payments at various terms and interest rates. If you are able to consider the amount of vehicle you can afford, based on your monthly payment, it can help you stay within your budget.
An auto loan estimator is an easy-to-use tool that is found on the Internet. This is not a rocket-science math calculation problem because the auto loan estimator does all of the work for you. All you need to do is input a few numbers and you can compare a variety of terms, down payments, interest rates, purchase prices and find out what your monthly payments will be or the total interest that will be paid, over the term of the financing.
Most of the websites that offer an auto loan estimator will have a worksheet that you complete, although it might be a simple fill-in-the-box questionnaire. Regardless, the simple-to-use calculator will give you information you need, so you can compare a variety of scenarios. Since you can change any of the input numbers, including the term, interest rate, purchase price, down payment or trade-in value, it is possible to get an estimate of the most desirable financing terms for your particular needs.
There is no sense looking at automobiles that are too expensive to fit your budget, but it is possible to lower your monthly payments with more money down or a lower interest rate, for example. While most people use an auto loan estimator to calculate the monthly payment on their car financing, there are some people that want to see the difference between two offers that are made by separate car dealerships. It is easy to input the variables and find out which option will cost you less money or offer a lower monthly payment.
This is the most common usage for this calculator tool, but once you have figured out which car you want to purchase, it is possible to avoid disappointment by learning how much it is going to cost, before you go through unnecessary paperwork. Many people will make up some vague number examples to get a general idea of what monthly payment they should expect, for this reason.
If you are searching for a different car, you will find the online auto loan estimator tool to be helpful. Those that have a specific budget to stay in will be better able to do so, because it only takes a few seconds to get the answers you are searching for. They are quick and easy to use, besides saving you money by helping you decide on the more attractive financing options. For this reason, you should consider the benefits an auto loan estimator can offer, when it comes time to purchase a different vehicle, because it is a free tool found on the Internet.
You must be thinking, what the heck is a student loan payment calculator and where do I find one? Have they actually manufactured a special calculator just for student loans? Before you head to the student book store, let us be clear that to date there is no student loan calculator on the market. It is simply a software program for student borrowers to give themselves an idea on how they will manage their loan repayments.
In order to get a clearer picture of what a student loan calculator does, you must fully familiarize yourself with the concept of a student loan. A student loan is basically a form of financial funding in order for college students to pursue their dreams of getting their most coveted college degrees.
Such kind of financial help can come from a variety of lenders and they also come with different sets of terms and conditions, interest rates and repayment terms. Because of this, the student borrower must plan ahead on how the regular monthly repayments of his student loans will be structured. Think of the loan payment calculator as a repayment planner for student debts. In fact there is no difference between a regular loan payment calculator and one used just for student loans.
To get an estimate of how much your regular student loan payments will be, the repayment planner for student debts/payment calculator will compute them for you based on the variables present. These three variables will come in the form of the principal loan amount (total money borrowed), loan interest rates that apply and the payment terms or number of monthly repayments the borrower is willing to make in order pay the loan in full.
Once the three variables are taken into consideration, the loan payment calculator will give a helpful approximation of how much your monthly loan repayments should be. Remember this is just an estimate to help you in your planning for loan repayments.
The loan repayment calculator will also give you an idea of how much the actual interest charges you are paying and how much your targeted minimum salary should be in order to have sufficient cash flow ri live on and still make your payments.
There are a lot of good loan repayment calculators you can choose from online. There are many easy to manage programs which will help you get a bigger picture of personal loan management. If you find that you still have some questions you have regarding your student loans, it is best to meet up with your loan servicing institution or loan provider to get an accurate estimate of your loan payment schedule.
So despite all the hype there really are no student loan payment calculators. If find someone who is selling one then you should assume it is a scam. You can get all the loan payment estimates by just using an on line loan calculator.
If your car insurance is due for renewal and you are considering buying another policy then this article will provide you with important facts that you should know about. Car insurance policies are getting increasingly expensive and you should do all that you can to reduce your costs. How much you have to pay for your car insurance is dictated by a variety of factors as they apply to you and your vehicle.
In this article we will examine coverage limits, your age, gender and marital status, your location and insuring other household members. All of these factors will have a great influence on how much you will have to pay for your policy.
Coverage limits are generally dictated by the price that you are willing to pay for your insurance. A higher level of coverage will generally result in higher premiums. The best way to find a good value policy is to comparison shop. Nowadays it is generally accepted that the best way to do this is by using a car insurance comparison website.
Your age, gender and marital status will have a great effect on the auto insurance rates that you are offered. Insurers rate drivers using a variety of criteria, if you are a young single male driver you will usually have to pay higher rates. If you are a middle-aged female married driver then your rates will be lower. Insurers calculate the best car insurance rates for you by comparing levels of risk. Those groups which are statistically more likely to be involved in an accident have to pay correspondingly higher rates.
Location plays an important part in deciding how much your premiums will cost. Drivers who live in an urban environment will usually pay more than those from a rural area. This is because drivers who live in cities and heavily populated areas are more likely to be involved in an accident, or to have their car stolen or vandalized. Insurers generally offer better rates if you’re able to demonstrate that you keep your vehicle in a garage at night. You may also be able to improve the security arrangements of your automobile by fitting an alarm, immobilizer and steering wheel lock.
Insuring other household members will have an influence on the cost of your policy and the best car insurance rates that you offered. If you have teenage family members living with you and they are added to your policy, then your costs will increase. This may still work out cheaper than if your teenage driver were to have a separate policy in their own name.
In conclusion, there are a variety of different factors which can affect your ability to be offered the best insurance rates. Some of these are coverage limits, how old you are, whether you are male or female and whether you are married or single. Your rates will also be affected by the area where you live and whether other household members are included in your policy.