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
The Pros and Cons of an NUA Strategy
Learn the advantages of a Net Unrealized Appreciation strategy with this helpful article.
How Long Will Your Money Last?
See how long a lump sum of savings could last based on your withdrawal rate and return.
Charitable Giving: Smart from the Heart
Do you have causes that you want to support with donations?