Borrow Calculators

The short answer: It depends. You need to consider when you bought your home and whether your mortgage rate is higher than current rates. Refinancing lets you update your mortgage terms and take advantage of lower rates. Market changes or changes in your credit score could qualify you for a lower rate and  significant savings on mortgage payments over time. Use our refinance calculator to analyze your situation.

Before you can answer this question, you have a few variables to weigh. If you're renting, you need to consider how much you can afford for monthly rent, fees and insurance. If you're buying, there's the down payment, realtor fees, insurance, closing costs, property taxes and more. However, buying can offer tax deductions that renting doesn't. Use our rent vs. buy calculator to help determine what makes sense for you.

Different mortgage rates and terms can make choosing a loan a confusing process, especially if you don't plan on keeping the loan for the full term. Use our mortgage term calculator to determine the total cost in today's dollars of various mortgage terms from 15 to 30 years.

The loan amount, term and mortgage rate can all have a dramatic effect on the total amount you pay for the property. Keep in mind that monthly mortgage payments typically include property taxes, hazard insurance and (if applicable) private mortgage insurance (PMI). Use our mortgage calculator to estimate the impact of these variables and create an amortization schedule you can apply to your budget.

Mortgage lenders look at more than your income, assets, down payment and credit rating when you apply for a loan. They look at liabilities and financial obligations too, like auto loans, credit card debt, child support, potential property taxes and insurance. Use our new home calculator to determine how much mortgage you might qualify for.