Consumer Debt
Home Affordability
When you’re buying a home, mortgage lenders don’t look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use this calculator to determine how much of a mortgage you may be able to obtain. Remember, however, that the results do not include the “hidden costs” of home ownership — additional expenses you may incur over and above your mortgage payment, such as maintenance, landscaping, and furnishings.
Home Refinance
Over the course of a loan amortization you will spend hundreds, thousands, and maybe even hundreds of thousands in interest. By making a small additional monthly payment toward principal, you can greatly accelerate the term of the loan and, thereby, realize tremendous savings in interest payments.
Use this calculator to determine the impact extra monthly payments toward principal will have on your loan.
Credit Card Payoff
Americans today owe more money than ever before. Installment debt, including auto loans and credit cards, recently topped $1,000,000,000,000 (1 trillion). The fact that 'interest never sleeps' means that the situation will continue to worsen unless steps are taken at the individual level to reduce or eliminate debt. Use this calculator to evaluate your credit card situation and see what the impact of additional monthly payments can make to accelerate the payoff and save yourself hundreds and thousands in interest payments.
Lease vs. Purchase
Leasing has become a very popular method of acquiring a new auto. Although the payments may seem attractive, it may not always be the best financial decision versus purchasing the vehicle outright and financing it with a low interest loan. Use this following calculator to help analyze the financial impact of lease versus buy.
Loan Amortization
Compound interest can have a dramatic affect on the growth of a single deposit. Use this calculator to determine the future value of a single deposit today.
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