6 Best Online Mortgage Calculators That You Should Try Today

Home loans are complicated and sensitive things, so before diving into a home loan and making a bad deal, you should do research. No one knows anything about mortgages until they have to deal with one. There are some basic things that you need to keep track of, and that includes how much cash you can afford to borrow for your new home. This is where “online mortgage calculators” can help you out. Some of the top-rated online mortgage calculators can help you make an educated decision. 

By using the best online mortgage calculators you can gain important insights, such as:

  • Upfront mortgage loan help
  • Down payment calculations
  • Payoff timetable
  • Average/estimated closing costs 
  • Additional hidden charges

So, if you aren’t a real estate wiz, it makes sense for you to get help from an online mortgage calculator. Our team of experts tried 30 online mortgage calculators and made a list of the best options out of them. So, without any delay, here’s our list of best online mortgage calculators. 

What To Look for in a Home Mortgage Calculator?

There are hundreds of online mortgage calculators to choose from. Just a simple Google search will yield you endless results. So, there are some basic features and functionalities that you should expect from an online home mortgage calculator. Such as:

  • Let’s you calculate a monthly home mortgage payment
  • Let’s you calculate the minimum income required to buy your dream home
  • Shows you data on how much home loan you can afford
  • Allows you to understand the loan payoff time, and the impact of accelerated payments. 
  • Calculates home refinancing loan
  • Let’s you calculate potential taxes, closing costs, and their impact on monthly mortgage payments. 

6 Best Online Mortgage Calculators

Now that you know why you should choose home mortgage calculators and how to choose the best ones, here’s our list of the best online mortgage calculators:

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1. Zillow Home Mortgage Calculator

Zillow or zillow.com loan calculator has tons of features to offer the users who want to calculate mortgages. Users can easily calculate monthly payments with taxes, insurance, and other fees. The calculator has a super simple UI which makes using it a piece of cake. All you have to do is enter the price of the home, add your down payment. Then add any other necessary details about your home loans. In just minutes, the Zillow home loan calculator will show you data about repayment, schedule of payments, and interest rates. Zillow home mortgage calculator has one additional feature, it allows you to get pre-qualified, which simplifies your process with mortgage lenders. 

2. USMortgage Home Loan Calculator

The second option on our list is the USMortgage Home Loan Calculator. The tool is a simple one, it allows you to calculate estimated payments on your home. It does one thing that a lot of mortgage calculators miss out on, it calculates extra charges such as home insurance charges, property taxes, and homeowner association fees. The USMortgage Home loan calculator doesn’t have the fancy bells and whistles, but it does what it intends. 

3. Trulia Mortgage Calculator

Trulia also offers a hands-on, simple mortgage calculator that adds everything up to give you the most accurate calculation of your home loan. You get access to some great features that most people online mortgage calculators don’t. Trulia asks for the Zip Code of the locality you’re planning to buy the home in to calculate the local tax rates and give you a complete idea of the loan. 

The online mortgage calculation tool also provides you guidance on the estimated mortgage costs on non-traditional home loans. These loan types include veteran’s loans, FHA 30, 15-year home loans, and adjustable-rate home loans. 

4. Dave Ramsey .com Mortgage Calculator

This online mortgage calculator helps you calculate your monthly home loan payments and the total home mortgage in minutes. This is one of the easiest-to-use tools on our list. Just add in your home value, the down payment amount, the type of mortgage you’re interested in, and the interest rate. You also get a special feature to find a good local real estate agent that can help you out find your next dream home. 

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5. Veterans United Mortgage Calculator

The Veterans United home mortgage calculator is built especially for the current and ex-US military forces members. The tool helps the veterans in calculating the entire loan amount. You can get an estimate on your mortgage data, with down payments and even without the down payment data. It takes everything into account such as the average taxes, homeowner’s insurance, and veterans loan fees. It also helps you factor in the credit score and whether you’re a qualified disabled veteran. The tool also provides a link that allows you to check if you’re eligible for the loan or not. 

6. FHA Mortgage Payment Calculator

The last option on our list of best online mortgage calculators is the FHA mortgage payment calculator. This is another amazing tool that provides an accurate FHA mortgage payment by considering the FHA mortgage insurance premium, monthly FHA mortgage insurance, property taxes, and homeowner’s insurance. You can get the minimum home down-payment calculator, to get an idea of low payment’s impact on end loan costs. You can even check if you’re eligible for the FHA home mortgage with the tool.

Conclusion: Top-Rated Online Mortgage Calculator

You can use the above-mentioned online mortgage calculators to get a realistic idea about the costs of the loan. Using an online mortgage calculator can help you be cautious in the future and not get confused with all the numbers.