Charlotte Home Loan Calculators

Input the length of the mortgage in years, the interest rate of that mortgage, and the amount of money you intend to borrow (not the purchase price) to determine the monthly principal and interest portion of the your payment.

Reminder: property taxes and homeowners insurance are typically required by lenders to be paid monthly along with principal and interest. Determine these two extra annual costs and add 1/12 of each to the returned value to estimate your total monthly mortgage payment.

Input the zip code of the property you intend to seek FHA loan financing for to see the largest loan the agency will allow you to qualify for on that property.

Reminder: the returned value is the size of the maximum loan amount allowed, not the purchase price. The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. They typically do not directly issue loans, only insure them. FHA insures these loans on single-family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world. 2 Family, 3 Family and 4 Family refer to duplexes, triplexes and quadplexes, respectively.

Input the appropriate values in this calculator to help you determine which makes more financial sense... renting or buying.

Reminder: this calculator is meant to be used in situations where you will either rent a new place or buy one. There are no standard values for rent increases. Check with the landlord or property manager for there customs. For Tax Rate in Step 4, use the federal tax rate bracket you will be in for the tax year this purchase transaction would take place. Consult your accountant or financial advisor. Look up definitions for values you asked to enter in our glossary if you need help.

Input the appropriate value to determine whether refinancing your current mortgage makes financial sense.

Reminder: the amount in Step 1 is the principal balance on your current mortgage that would need refinancing, not the original loan size. Months paid in Step 1 is the number of monthly payments you have made since getting your current mortgage. Refer to your statements. There are no standard fees and points so do not accept the values in the calculator without checking with your mortgage consultant or loan officer. For Tax Rate in Step 3, use the federal tax rate bracket you will be in for the tax year this purchase transaction would take place. Consult your accountant or financial advisor. Look up definitions for values you asked to enter in our glossary if you need help.