Payment Calculator

Below you will find a simple loan calculator that allows you to plug in different interest rates, loan amounts, and mortgage term so you can estimate your monthly payment. Plus, you can also see an amortization schedule of a loan which will show you how much of your payment goes towards the principle and how much towards interest. This loan calculator should be used only as estimation, as it doesn't allow for taxes and insurance.

You can use this free mortgage calculator to estimate your monthly mortgage payment online. Even estimate your mortgage amortization online. This can be used a few different ways. One way is to take the multiple online quotes you get from the ApplyToRefi mortgage lender network to see the benefit for your self.

A lot of people don’t know what they actually pay each month in taxes and insurance on there monthly mortgage payment. Another way to use this payment calculator is to estimate what you actually pay each month in taxes and insurance. By inputting your current interest rate and loan amount you will come up with the payment with out taxes and insurance.

Take your actual monthly payment and compare the two. Now you can see what part of your payment goes to taxes and insurance each month.

An additional way to use the payment and amortization chart is to compare the difference between how much you would pay in interest in the first 5 years in a fixed 30 or 15 year rate, and a shorter term interest only loan. Make sure you ask the loan agents that contact you after you’ve filled out the online application for an interest only loan quote.

With that loan quote, take the monthly payment times 60 months to come up with how much you would pay in interest for the first 5 years. Then use this amortization calculator to show how much you would pay in interest with a 30-year or 15-year mortgage.

Compare the two and you will see that if you are going to change, refinance you loan or sell your home with in the first 5 years of your new home loan. Then most of the time, an interest only loan is a good option to look into.