Comparing Mortgage Terms
For most, a home is the most significant purchase they will ever make. Use this calculator to see the difference between a shorter- and longer-term mortgage when strategizing for the future.
Loan Parameters
Loan Comparison Results
First Loan
Second Loan
Visual Comparison
Keep in mind that mortgage lenders have rules that they follow, such as the popular 28/36 guideline. It suggests that no more than 28 percent of a person's gross monthly income should be spent on housing costs (which includes your mortgage, taxes, and insurance) and no more than 36 percent on all debt. So before you get too deep into mapping out mortgage scenarios, it might be best to speak with a professional who can guide you through the numbers.
Have A Question About This Topic?
Related Content
Understanding Money Market Funds
Check out this brief article which explores the role Money Market Funds may play in your portfolio.
Preserve, Grow, and Give: Year-End Wealth Planning
Help preserve, grow, and pass on your wealth and legacy to future generations through smart year-end planning strategies.
Can Group, Private Disability Policies Work Together?
Loss of income from disability has the potential to cause financial hardship. Disability insurance can help.