Mortgage interest rates today Better Loan Decisions

Mortgage interest rates today: Better Loan Decisions

3-month trend 30-year fixed 15-year fixed 5/1 ARM 30-year jumbo
3/9/2016 3.87 3.1 3.33 3.78
3/2/2016 3.82 3.1 3.32 3.74
2/24/2016 3.8 3.09 3.24 3.7
2/17/2016 3.85 3.12 3.28 3.75
2/10/2016 3.78 3.06 3.18 3.68
2/3/2016 3.88 3.15 3.21 3.77
1/27/2016 3.94 3.21 3.3 3.83
1/20/2016 3.98 3.23 3.31 3.87
1/13/2016 4.05 3.29 3.4 3.93
1/6/2016 4.11 3.38 3.46 4.08

A [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip] is a device used to help home buyers establish their monthly payment on their mortgage using variables such as principal, interest rate, and term. Mortgage calculators are, thus, essential tools for home buyers. Here are their different applications.

During the early process of applying for a mortgage

You will find that a [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip] is a precious tool that can guide you to finding the best mortgage. Below are tips to help you choose the best mortgage arrangements with a [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip]:

– Determine the amount of mortgage and the price of a house you can afford based on your income and debt information

– Calculate your monthly loan payments based on loan amount, interest rates, and other loan terms

– Compare the costs or mortgage interest rates today between several different mortgage loans

– Compute extra fees on your monthly mortgage that enable you to pay off your mortgage faster

– Calculate your payments on debt consolidation mortgage loans to get an idea of your monthly savings

– Check how you can refinance the loans you have by working out the amount you can afford to borrow and exactly how much your repayments are going to be using time scales and interest rates

– Make comparisons with other mortgage products, both fixed and adjustable. You should definitely use the [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip] for deciding between fixed interest and variable interest. Check what the monthly payment will be with the fixed term. Then you need to enter the minimum and maximum interest on the variable rate loan and compare the numbers to the first one that you have got. This will present you an idea of how affordable and cost-efficient each option will be.

– Make amortization schedules and tables using the amount and interest as basis

– Assesses how principal payments made to lessen the mortgage loan balance will influence the amortization schedule

– Allows you to key in your monthly income and monthly obligations so you can calculate the maximum monthly mortgage payment and mortgage amount you can afford

– Calculate when it is sensible to refinance your home

Therefore, by using a [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip], you can most certainly get good and precise information about the actual mortgage loan. All you have to do is to enter the required figures in the [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip] provided in most lender websites. Make sure you’re getting a lot of options by using another company’s [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip]. By doing so, you will find out that there are different choices for a loan in other firms. To find the appropriate mortgage, you have to make a number of searches and several calculations using the appropriate [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip].

After acquiring the loan

A [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip] can help you in planning for the loan repayment and also in loan management as shown below:

Repayment Planning

With an effective plan for mortgage repayment, you can save money and gain more equity in your property more quickly. In order to come up with the precise numbers, you should enter different monthly payments which are higher than the original. This will provide you an idea of how quickly you will repay your debt and how much you will save. With a more advanced tool, you will be able to determine the effect of additional annual payments and bulk payments. It is important for you to compare different repayment options in order to find out which is the most cost-efficient one of all.

Loan Management

There are other aspects to loan management in addition to devising a repayment plan. You can manage your loan effectively with the use of a calculator. You need to calculate when you will have 20% equity in your home so that you can request the termination of PMI right away. This move will save you a lot of money on insurance premiums.

You should definitely use the tool when you are contemplating whether to refinance or not. You can determine whether and how much you will save on the loan and how your monthly payments will change. You need to compare the parameters of the new deal compared to your current loan. You must not miss to add the closing cost of refinancing.


With the proper use of a [tooltip id=”a390ddfd5ab7a928493981925db8fc87″]mortgage calculator[/tooltip], you are assured of making sound mortgage loan computations. These calculations, in turn, are valuable in helping you come up with better mortgage loan decisions.[tooltip type=”box” html=”Input Your Content Here” box_background_color=”#eeeeee” box_opacity=”0.95″ box_padding=”10″ box_border_color=”#3F3F3F” box_border_width=”1″ box_border_radius=”0″ id=”a390ddfd5ab7a928493981925db8fc87″ /]

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