Compare A Current Mortgage To A Potential Replacement Loan.
This mortgage calculator will allow you to compare your existing mortgage payment and amortization schedule to a potential new mortgage. For example, you can input your current mortgage details and compare them to a new mortgage with a different interest rate or term. Your new mortgage might entail taking equity out of your home (borrowing more than your existing loan), and you may forecast that you plan only to be in the house for a lesser period than it takes to pay off the new loan. Based on these parameters, you can modify the input and generate a comparative amortization schedule. This mortgage calculator has much more utility than your basic mortgage calculator.
