Which mortgage is better for me?

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TimeValue Software
22 Mauchly
Irvine, CA 92618
(949) 727 - 1800
FAX (949) 727 - 3268

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TCalc™ Financial Calculators

Which mortgage is better for me?

This calculator will help you compare the total cost of any two or three mortgages. This analysis includes the effect of a tax deduction for interest. If the interest is not deductible, or if you do not want to show the effect of the tax deduction, choose an income tax rate of zero.

Loan Details

Loan ID
Down payment	%$	%$	%$
Loan term
Interest rate
Points
Other fees
Payment period
Loan type
Adjustable type
Maximum initial rate adjustment
Maximum subsequent rate adjustment
Anticipated rate cap

All Loans
	Home price
	Your income tax rate	(Enter 0 if you do not want to calculate tax effects.)
	Your after tax savings rate
	How long you will stay in this house

Show Chart

Financial Details

Loan ID

APR

Loan amount

Points and fees

Total of payments

Payment

Principal and interest

Private mortgage insurance

Tax savings

Final payment

Present value of loan

Loan Name 1
5.907 %
$400,000.00
$150.00
$557,207.54
$2,558.55
$2,372.55
$186.00
$44,018.11
$360,285.89
$419,527.55

Loan Name 2
5.666 %
$360,000.00
$3,700.00
$494,225.83
$1,870.98
$1,718.70
$152.28
$38,591.23
$323,109.16
$413,674.94

Loan Name 3
5.828 %
$340,000.00
$200.00
$474,136.52
$1,949.29
$1,825.19
$124.10
$37,558.23
$306,943.23
$411,345.71

Calculator tips

The "present value of the loan" figure is the cost of all tax adjusted payments plus tax adjusted points, fees and down payment, discounted back to the start of the loan at the savings rate you entered. You may also think of it as the amount you would have to invest today (e.g., in a savings account) to cover the points, fees, down payment, and all monthly payments for as long as you keep this property.

In this calculation, points are deducted up front as apposed to being amortized over the life of the loan. This is most consistent with new primary residence purchases. The deduction on loan points for refinances and income properties are usually amortized over the life of the loan.

Calculator disclaimer

The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.

Mortgage Comparison Calculator

TimeValue Software offers this online mortgage comparison calculator for use on your website. Help your customers find the best mortgage for their situation. Our online financial calculators integrate right into your existing website automatically. Customize your calculators with the style and look of your site while promoting your own products and services. Add a contact form, and use the calculators as an online lead generator.

Interested in adding financial calculators to your website?

Or give us a call at (800) 426 - 4741. We will show you how calculators are being used in a website for a business similar to yours.

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