Comparing Mortgage Terms
For most, a home is the most significant purchase they will ever make. Use this calculator to see the difference between a shorter- and longer-term mortgage when strategizing for the future.
Loan Parameters
Loan Comparison Results
First Loan
Second Loan
Visual Comparison
Keep in mind that mortgage lenders have rules that they follow, such as the popular 28/36 guideline. It suggests that no more than 28 percent of a person's gross monthly income should be spent on housing costs (which includes your mortgage, taxes, and insurance) and no more than 36 percent on all debt. So before you get too deep into mapping out mortgage scenarios, it might be best to speak with a professional who can guide you through the numbers.
Have A Question About This Topic?
Related Content
Risk Tolerance: What’s Your Style?
Learn about what risk tolerance really means in this helpful and insightful video.
Inflation and the Real Rate of Return
Learn about the role of inflation when considering your portfolio’s rate of return with this helpful article.
Exit Strategies of the Rich and Famous
Estate conservation is too important to put off. Do you have a smart exit strategy?