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
Reviewing Your Life Insurance Needs
Learn how the review process works and how it may help you better understand your Life Insurance.
Social Security: The Elephant in the Room
Some people wonder if Social Security will remain financially sound enough to pay the benefits they are owed.
It Was the Best of Times, It Was the Worst of Times
All about how missing the best market days (or the worst!) might affect your portfolio.