The Best Mortgage Calculators On the Web! Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more. Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you... Fixed or Adjustable Rate?
A fixed rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.
Definitions
- Fixed Rate Mortgage
- A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage. The payment is calculated to payoff the mortgage balance at the end of the term. The most common terms are 15 year and 30 years.
- Fully Amortizing ARM
- This is the most common type of ARM. The monthly payment is calculated to payoff the entire mortgage balance at the end of the term. The term is typically 30 years. After any fixed interest rate period has passed, the interest rate and payment adjusts annually. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. This calculator uses a maximum interest rate of 12%. Below is a list of the most common types of Fully Amortizing ARMs.
| Common Adjustable Rate Mortgages |
|---|
| ARM Type | Months Fixed |
|---|
| 10/1 ARM | Fixed for 120 months, adjusts annually for the remaining term of the loan. |
| 7/1 ARM | Fixed for 84 months, adjusts annually for the remaining term of the loan. |
| 5/1 ARM | Fixed for 60 months, adjusts annually for the remaining term of the loan. |
| 3/1 ARM | Fixed for 36 months, adjusts annually for the remaining term of the loan. |
| 1 year ARM | Fixed for 12 months, adjusts annually for the remaining term of the loan. |
- Interest Only ARM
- An Interest Only ARM only requires monthly interest payments. Since you are not paying any principal, as you are with the other two types of mortgages described above, this can lower your monthly payment. However, since your mortgage's principal balance is not decreased, you will have a balloon payment at the end of the mortgage's term. Like a Fully Amortizing ARM, an Interest Only ARM will often have a period where the interest rate is fixed, and then it is adjusted annually. An Interest Only ARM will also have a maximum interest rate that it will not exceed. This calculator uses a maximum interest rate of 12%.
- Mortgage amount
- Expected balance for your mortgage.
- Term in years
- The number of years over which you will repay this mortgage. The most common mortgage terms are 15 years and 30 years. Please note that for the Interest Only ARM you will have a balloon payment for the entire principal balance at the end of the loan term.
- Expected rate change
- The annual adjustment you expect in your ARM. The range for this calculator is minus 3% to plus 3%. Use a negative value if you believe interest rates will decrease, a positive value if you believe they will increase.
- Interest rate
- Annual interest rate for each mortgage type. Typically an ARM will have a lower interest rate than a fixed rate mortgage. The rate of an Interest Only ARM will vary by lender.
- Months rate fixed
- This is the number of months the rate is fixed for an ARM. During this period the interest rate and the monthly payment will remain fixed. The rate will then adjust annually by the expected rate change.
- Interest rate cap
- This is the maximum interest rate for this mortgage. The mortgage's interest rate will never exceed the interest rate cap.
- Monthly payment
- Monthly principal and interest payment (PI) for the Fixed Rate Mortgage and the Fully Amortizing ARM. This is an interest only payment for an Interest Only ARM.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
 |
Home Inspections >Serious Inspections
When you are involved in the process of buying a home, it is safe to assume that you will probably find one that you like, make an offer, and purchase it. There are many steps along the way, and more and more buyers in the market today want guarantees. Inspections by structural engineers and environmental specialists often turn up something wrong with the property you want to buy. Many sales have been halted or delayed because asbestos, lead, or radon was found on the property.
If a problem has been found with the property you want to buy, ask yourself two questions:
1) Can the problem be fixed?
2) If so, what will it cost to repair it?
Some of the following problems could keep you from purchasing a property, if:
1) the house rests on a fault line;
2) the water supply is contaminated;
3) there is a severe crack in the foundation;
4) the house is located under electro-magnetic power lines;
5) the house is contaminated with radon gas.
Enlist your real estate agent's help in identifying the existence of any of these problems prior to buying property.
|
|
| Q |
From 1974 to 1996, what was the world's tallest habitable building?
|
| A |
The Sears Towers, headquarters for Sears, Roebuck & Co., with 110 stories and 1,454 feet high. |
 See More Real Estate Trivia > |
|
|
|
John Beshk, Designated
Broker
The Beshk Group, Inc.
1409 W. Crystal Spring
Dr.
Gilbert, AZ 85233
Chandler Branch
908 W. Chandler Blvd., Suite
2, Bldg D.
Chandler, AZ 85225
Mesa Branch
1355 N. Greenfield Rd.
Mesa, AZ
85205
Office:
480-214-5347
Direct: 602-309-8888
Fax:
480-302-7921
Email: John@TheBeshkGroup.com
John Beshk has been
assisting Arizona home buyers and sellers with their real estate needs since
1992 and has helped hundreds of individuals and families realize their dream of
home ownership. Every buyer and seller has different wants and needs, which
makes finding an experienced professional like John and The Beshk Group, Inc. a
necessity. John and his team of professionals can provide you with the
individualized attention and service you deserve.
John is certified by
the Arizona Department of Real Estate and Maricopa Community Colleges to
provide pre-licensing, appraisal and continuing education instruction for real
estate agents and college students. All of his courses are open to the public
and available at Mesa Community College.
John earned his Bachelor of
Science in Finance from DePaul University and Master of Business Administration
from the University of Phoenix. John has resided in the East Valley since 1986
and currently lives in Gilbert with his wife, Mickie.
John is the
Designated Broker for The Beshk Group, Inc. a family owned and operated real
estate firm that prides itself on creating and maintaining sound relationships
with its past, present and future clients.
You can contact John by
telephone, email, request information through his website or by appointment at
his Gilbert, Chandler or Mesa offices.
  
 
www.TheBeshkGroup.com
is brought to you by The Beshk Group, Inc.
NUMBER1EXPERT™ in
real estate for
Gilbert, Chandler and Mesa, Arizona Read John Beshk's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT™ 
