Loan and Mortgage Calculators

YOUNG MONEY calculators to help with comparing monthly mortgage payments, loan refinancing, home equity loans, and rent vs buy decisions.

• Line of Credit Payoff

YOUNG MONEY line of credit payoff calculator to determine how many years it will take to payoff your line of credit given a set amount of principle borrowed and a set amount of money paid back each month towards the line. You must know your current balance, your interest rate, the goal time and how much more you charge additionally each month.

• Loan Comparison Calculator

Use the YOUNG MONEY loan comparison calculator to show which loan provides you with the best value. Rather than simply comparing monthly payments you can compare the loan term, interest rate, origination fee, and other fees. The Loan Comparison Calculator helps sort through monthly payments, fees and other related loan costs. By comparing these important variables side by side, this calculator can help you pick the loan that works best for you. Click on the "View Report" button to see the results in detail.

• Mortgage Calculator - Prequalify for a Mortgage

YOUNG MONEY mortgage calculator helps prequalify you for buying a house by finding out how much you can borrow based on your current income. It takes into account your available budget - with an amortization schedule of your mortgage payments.
The first step in buying a house is determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the "View Report" button to see a complete amortization schedule of your mortgage payments. You will need to know a few things like closing costs and how much you will be paying in loan origination costs.

• Mortgage Payoff Calculator

YOUNG MONEY mortgage payoff calculator helps show how much interest you can save by increasing your monthly mortgage payment. See a complete amortization payment schedule, and how much you can save on your mortgage over the lifetime of your mortgage.
This mortgage payoff calculator helps you find out how much you will shorten your mortgage by adding to your monthly payment. Enter the fields with the correct data and click the "View Report" button to see a complete amortization payment schedule, and how much you can save on your mortgage!

• Refinance Breakeven

YOUNG MONEY mortgage refinance breakeven calculator helps calculate breakeven on mortgage refinancing - current interest rate, new potential rate, closing costs and how long you plan to stay in your home, are all break even factors.
How long will it take to breakeven on a mortgage refinance? That depends on a multitude of factors. These factors include your current interest rate, the new potential rate, closing costs and how long you plan to stay in your home. Use this calculator to sort through the confusion, and determine if refinancing your mortgage is a sound financial decision. Click the "View Report" button for a detailed look at your records.

• Rent vs. Buy

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision. Click the "View Report" button for a detailed look at the results. Don't forget to include all the additional expenses of home ownership that as a renter you do not have to worry about. Expenses like cutting the grass and paying for a broken water heater would up the cost of buying the home.