Downtown Jersey City Waterfront during a beautiful sunset

Compare 2 New Amortizing Loans Of Different Terms.

This particular mortgage calculator can be helpful if you are trying to decide whether to borrow with a 15- or 30-year term and compare the amortization schedules. Otherwise, this simple calculator and comparison have minimal utility, like the other online mortgage calculators. It is a good and simple calculator for comparing a 15-year mortgage to a 30-year mortgage; otherwise, it is useless. The fixed rate on a 15-year mortgage is probably being quoted lower than a 30-year mortgage, so input the two mortgages below and compare the monthly payment and the amortization schedules.

Mortgage Refinancing Calculator Example:

Refinancing your mortgage? Try this simple mortgage calculator comparing cash flows: Compare (Old) Mortgage To (New) Mortgage.  You can indicate an early payoff if you plan on selling your home before the mortgage is fully amortized.  If you would like to consider present value, try: Compare (Old) Loan To (New) Loan Using Present Value.

Free calculator displaing an amortization schedule and helping homeowners understand the amount of money they will save by refinance there mortgage.