QUICKEN LOANS MORTGAGE CALCULATOR
Pros: You can get fast results because you only need to provide the home price and down payment. The calculator then spits out a chart of costs for different loan programs, starting with a 30-year fixed loan, based on the interest rate for a typical borrower with good credit. You can also find separate tools for prequalification/loan amount, refinance calculator, and amortization schedule.
Cons: Doesn’t include much additional information (PMI, taxes, insurance, HOA fees) as part of the calculator. Instead offers a detailed disclaimer explaining these costs are part of the typical mortgage payment.
Ads: 1 Pop-Up Ad for Quicken
Pros: This, too, is a strong option that covers the entire picture for the average borrower and their monthly mortgage payment. It provides a number of nifty, if not always, applicable benchmarks. Such as what your mortgage payment would like after getting the PMI removed after 26 months and what the total tax and insurance totals look like. It also includes the ability to print and share the mortgage calculation.
Cons/Ads: In our opinion, the biggest con to this mortgage calculator is the on-page ads. They’re not as annoying as pop-up ads per se, but they make the page a little too busy and somewhat more difficult to use and understand the calculator. Still, a great tool once you get past the ads, though.
ZILLOW MORTGAGE CALCULATOR
Pros: One of the best mortgage calculators we’ve found. Includes fields for home price, down payment, loan type, interest rate, PMI, taxes, insurance, and HOA dues. Also includes additional tools to view current interest rates, see amortization schedules, and a full pie-chart breakdown of how your monthly mortgage payment is allocated. You can also share this information with others or yourself through social media and email. Witht the Zillow Mortgage Calculator, you can also use a local search option to estimate your prequalification and potential loan amount.
Cons: Not many, but it’s not as fully customizable and it’s lacking a few of the bells and whistles that come with more sophisticated mortgage calculator tools.