Karl's Mortgage Calculator - Finances & loan management

Determine mortgage payments by providing principal, interest rate, and term. Alternatively, calculate any variable by inputting the other three.

Specify a down payment amount or percentage to determine the necessary mortgage amount.

Explore variations in monthly payments when considering additional loan costs like PMI, HOA fees, taxes, and insurance.

This tool accommodates Fixed, Adjustable Rate Mortgages (ARM), and Interest-only loans with provisions for up to five interest rate adjustments.

Accelerate mortgage payoff with extra payments. Add one-time, monthly, or annual supplementary payments. Discover potential savings based on up to ten additional payments and their frequencies.

Select payment frequencies ranging from weekly to annually and adjust compounding periods between daily and yearly. Both Canadian and UK annual rest mortgages are supported.

Customize rounding preferences for loan calculations - options include no rounding, round half-up or half-down, even, ceiling, or floor.

The calculator can handle multiple currencies for input and display purposes.

Permissions:

- Internet access is required for advertisements and analytics.

Multiple loans

The calculator supports switching between multiple loans. All loans created are automatically saved, so there is no menu option for saving. Loan settings are saved along with loan values. When a new loan is created, default values are used for both values and settings. The "Copy loan as" option can be used to create a copy of a loan with a new name that preserves its values and settings. Apart from the "Default Loan" (which is always present), loans can be renamed or deleted.

Reverse calculations

The radio buttons on the left of the input boxes determine whether principal, interest, years or repayment is calculated. By default, the repayment radio button is selected, meaning that you can enter data in the principal, interest and years boxes and the repayment will be calculated. Clicking on another radio button, e.g. principal radio button, allows you to modify years, interest and repayment to see the principal value calculated as these other values change.

Expenses

The expenses figure shows the proportionate sum of tax, insurance, HOA and other expenses payable for the period being calculated. If PMI is enabled, an approximate value for PMI based on the downpayment percentage will be shown. The total payment for the period is the sum of the mortgage payment, PMI and expenses.