A mortgage calculator is a handy online tool for many different reasons. If you have potential customers visiting your website who are thinking about buying a new home or refinancing an existing mortgage, a mortgage calculator can help them quickly and easily calculate mortgage payments and find out what size of loan they can afford. It can calculate a mortgage for any terms you would like to check and generates a report detailing the amortization schedule of a loan showing year over year payments, segmented by principal and interest. Using this online mortgage calculator will also generate total interest payment and total payment over the life of the loan as well as monthly P & I calculation. You will also see three useful charts at the top of the mortgage calculator output: Amortization Graph, Repayment Chart and Balance Graph. All of these charts and graphs make it is easier to compare different mortgage options using this mortgage calculator.

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