Mortgage Comparison Calculator
Our Mortgage Comparison Calculator gives you the opportunity to compare a total of three different fixed rate mortgage plans against a single amount. Simply type your mortgage amount at the top of the calculator, followed by the annual interest rate and the number of months for each plan in the multiple boxes below.
How to use Mortgage Comparison Calculator?
Once you've done this, the monthly payment, the total interest due, and the total amount of money that will be due from the plan, are all calculated.
Also calculated will be the monthly payment, the total amount of interest that will be due, and the total amount due.
After you have entered the necessary financial figures, a table will display a payment schedule for each of the plans which will show you a breakdown of each monthly payment:
- The column titled "Principle" shows the amount of the mortgage which has been paid off.
- The column titled "Interested" shows the interest which has been paid, against the outstanding balance.
- The column titled "Balance" shows the amount which is outstanding after the monthly payment has been deducted.