Pros: Has a wide range of reports and graphics to highlight user inputsĬons: Loan options that are usable in the calculator are limited to 30-year fixed, 15-year fixed and 5/1 adjustable-rate mortgagesĪ generic loan payment calculator is probably the simplest and most wide-reaching type of financial calculator. When calculating a mortgage payment, you’ll have to factor in a down payment, mortgage insurance, property taxes, homeowners insurance and other fees in addition to the price of your home and the interest rate on the loan. The Zillow mortgage calculator offers a sleek interface that allows you to input all of the variables of your mortgage loan to compute a single monthly payment amount.
#Online financial calculators how to#
Even somewhat difficult computations like mortgage interest can be performed with just a few keystrokes. With a quick online search, now everyone has the ability to pull up a free financial calculator to do the heavy lifting. Gone are the days when brokers or lenders were the only ones who could compute your loan interest. The internet can be a powerful source of information, particularly when it comes to understanding financial transactions.
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