The Best Mortgage Calculators On the Web!
Mortgage Calculators at a Glance
15 vs. 30 Yr Mortgages
Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.
- Marginal tax rate
- This is your combined state and federal tax rate. This is used to calculate your potential income tax savings by deducting your mortgage interest.
- Monthly payment
- Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.
- Total payments
- Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
- Total interest
- Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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Buying Land and New Construction >Buying New or Buying Old
New homes typically have a higher sales price than comparable existing homes, and buyers are usually willing to spend more on a new home because of lower maintenance costs. Builders' warranties on new homes, when combined with a new roof, appliances, and major systems, usually make major repairs unnecessary and help to counter a slower initial rate of appreciation.
Census Bureau Housing Surveys suggests that operating costs are lowest for brand new homes and slightly higher for relatively new existing homes. Operating costs per square foot of living space are consistently higher for progressively older existing homes. Utility costs represent the largest factor in operating costs. Energy consumption per square foot depends on the size of the home, the insulation and quality of the windows, air leakage and the efficiency of the furnace.
New homes require fewer expenditures for routine maintenance. The cost of maintenance first increases with age, then declines, so you will generally spend less maintaining a home built before 1960 than for a home built between 1970 and 1975.
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| Q |
What famous writer's home is Rowan Oak?
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| A |
Rowan Oak in Oxford, Mississippi, was the home of William Faulkner from 1930 until his death in 1962.
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 See More Real Estate Trivia > |
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