Helpful Calculators & Tools
Free Real Estate Calculators
At San Diego Purchase Loans, we believe it is vitally important for loan borrowers to understand the mortgage lending process. This is why we are happy to share our free real estate calculators with you. These tools can help you determine every component that affects the cost of home ownership monthly, annually and ultimately, over the entire life of your mortgage agreement.
If you are still mulling over the homebuying decision, you can use our free real estate calculators to run various “what if?” scenarios based upon a specific interest rate, loan term and amount borrowed. You can even add in estimated monthly amounts for property taxes, insurance and condominium or homeowner association (HOA) fees. You can use our free real estate calculators at your leisure, and we welcome you to contact us with any questions you might have….
Free Mortgage Calculator Tool
Our free mortgage calculator tool will provide you with a visual calculation regarding loan principal and interest paid, as well as taxes and insurance. You can select “full view” if you would like a more detailed report. We have included a resource key to help you understand how our free mortgage calculator tool works:
- Sales Price or Value: Enter the price of the home you are looking to buy, or your home’s estimated property value if you are considering refinancing.
- Interest Rate: Input an interest rate for your mortgage. If you are not sure about current rates, give us a call and we will provide you with an update.
- Length of Loan: The duration, or term of your loan (in years). Most loan program terms are in 5-year increments ranging from 10 to 30 years total. Our calculator automatically converts months to years for you.
- Down Payment: Enter your down payment to view it as a percentage of the total sale price. If you are looking to refinance, enter the estimated amount of your home’s equity.
To use our free mortgage calculator tool, please click on the button below.
Discount Points Mortgage Calculator
Discount points, also known as “mortgage points,” are fees borrowers pay directly to lenders at closing in exchange for reduced interest rates. Mortgage points can also potentially help lower monthly loan payments. One point equals one percentage of the total mortgage cost. You can use our discount points mortgage calculator to see how much money you could save by “purchasing” points from your lender. To use our free discount points mortgage calculator, please click on the button below.
Mortgage Loan APR Calculator
An annual percentage rate, also known by its acronym APR, is a much broader measure (versus an interest rate) of your cost to borrow money from a mortgage lender. In general, an APR reflects the loan’s interest rate, any discount points, mortgage broker’s fees and other charges attached to the loan. Our mortgage loan APR calculator can help you accurately calculate the annual percentage rate on your home loan over its duration. To use our free mortgage loan APR calculator, please click on the button below.
Buying vs Renting Calculator
Many people who currently rent homes or apartments/condominiums do not realize how comparable ownership might be to their monthly rent payments…. with the added benefit of equity accrual on property they can call their own. Our buying vs renting calculator can help you determine if you are financially better off (both in the short and long term) buying property versus renting it. To use our free buying vs renting calculator, please click on the button below.
Home Appreciation Calculator
In the context of home ownership, “appreciation” is the increase in a home’s value over time. Home appreciation is calculated based on the fair market value of homes for sale in your area that are comparable to the home you currently own. Our home appreciation calculator can help you determine equity, net appreciation and your return on initial capital outlay based on a host of real estate trends in your local geographic area. To use our home appreciation calculator, please click on the button below.
ARM vs Fixed Calculator
Homebuyers must make a decision between adjustable rate mortgages (ARM) versus fixed mortgages when choosing loan terms. “Fixed” means the interest rate will not change for the loan’s duration. Adjustable rate mortgages generally begin with lower interest rates than fixed ones do. However, over time the rates can (and usually do) increase. When choosing between the two options, you should take into account loan duration, odds of early payoff, and several other important factors. Our ARM vs fixed calculator can help you determine (in both the short and long term) whether an adjustable or fixed rate mortgage is the smarter option for you. To use our ARM vs fixed calculator tool, please click on the button below.
San Diego Purchase Loans
At San Diego Purchase Loans, we want to help our clients be fully educated and informed about the mortgage lending process. After all, buying a home is a long-term, very significant investment financially speaking. If you would like to discuss the results you gathered using our real estate calculators, or if you would like our assistance translating your data into a tangible plan-of-action benefitting your homeownership dreams and goals, we welcome you to contact us to schedule a telephone or in-person appointment.