This mortgage simulation goes beyond traditional calculators by not only estimating your payments but also comparing different financial strategies. It allows you to see the impact of extra payments, investing instead of prepaying, and even reinvesting your mortgage payment after an early payoff. With detailed breakdowns, you can make informed decisions to optimize your financial future.
| Monthly Payment | $0.00 | ||||||
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| Property Value | $0.00 | ||||||
| Down Payment | $0.00 | ||||||
| Loan Amount ($) | $0.00 | ||||||
| Total Pay | $0.00 | ||||||
| Total Interest Paid | $0.00 | ||||||
| Final Date | -- | ||||||
A mortgage is a loan you take to purchase a home. You repay it over time with monthly payments that include principal (the loan amount) and interest. Mortgages can have fixed or adjustable rates, impacting how your payments change over time.
Unlike traditional calculators, this tool simulates different financial strategies, such as making extra payments, investing instead of prepaying, and reinvesting after an early payoff. It provides detailed comparisons to help you choose the best approach.
The simulator projects the growth of invested funds based on your specified annual return. It compares the results of paying off your mortgage early versus investing extra funds over the same period.
If extra payments shorten your loan term, the calculator will simulate investing your monthly payment through the remaining years of the original loan period.
Yes, you can set an average annual investment growth rate to simulate different market scenarios.
Yes, the simulation estimates potential mortgage interest tax deductions based on your filing status and adjusts the overall cost accordingly.
Yes, you can compare fixed-rate, adjustable-rate (ARM), and interest-only mortgages to understand their long-term financial impacts.
Absolutely! You can enter new loan terms and extra payments to see how refinancing could affect your total cost and investment potential.