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
Value vs. Growth Investing
Among stock-market investors there’s long been a debate between those who favor value and those who favor growth.
Protecting Your Business from the Loss of a Key Person
Business owners may be able to protect themselves from the financial consequences of losing a key employee.
Understanding Social Security: 5 Common Myths Explained
Have questions about Social Security? Explore five common myths to better understand your benefits and options.