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Knowledge is power they say! Use these free Mortgage Calculators as a resource to understand your options based on what you know at this time. When you are ready for a Free Consultation from a knowledgeable professional who knows the ins and outs of the mortgage industry then fill out the Quick Application on the left, Apply Online, Contact Us, Find a Loan Officer or Ask a Question.
One thing is for certain - before you lock in to a new home loan or property purchase, make sure you know your financial situation. Royal Banks of Missouri offers the calculators below so you can be sure to know some of your options and the benefits of these programs before getting started.
Mortgage Loan Calculator
The Mortgage Loan Calculator can be used to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments!
Fixed Rate Mortgage vs. Interest Only Mortgage
This calculator will assist you in determining the option that is best for you - building equity or minimizing the monthly payment. An "Interest Only" mortgage is generally used for an investment property (to keep monthly cash flow at a minimum) or when the homeowner knows they will be moving within 7 years. A caution to keep in mind with any "interest only" type of loan - most of these loans will reset at a future point in time to a fully amortizing payment which is much larger than the initial payment.
Interest Only Mortgage Calculator
The Interest Only Mortgage Calculator generates an amortization schedule for an interest only mortgage.
Rent vs. Buy
Determine whether you should rent or buy your home. The Rent vs. Buy Calculator helps you weed through the fees, taxes and monthly payments to help you make a good financial decision.
Mortgage Tax Savings Calculator
Interest paid on a mortgage is tax deductible if you itemize on your tax return; and so are points that are paid to lower your interest rate. Use the Mortgage Tax Savings Calculator to determine how much you could save in income taxes. |
