March 16, 2009

Home Loan Calculator

There are many home loan calculators that are available on the Internet. However, I've shortlisted 3 of these home loan calculators that i found useful and used quite frequently:
  1. Multi-tier loan calculator with no amortization table: This calculator is good if you have a multi-tier home loan package with different rates. For example, you might have a home loan package with the rate of 2.88% for first year, BLR - 1.8% for year 2 - 5, and BLR - 2.2% thereafter. Most of the online calculators cant calculate for these kind of tiered interests. This calculator will only show monthly repayment amount, total repayment and total interests.
  2. Two-tier loan calculator with amortization table: This calculator is good if you have a two-tier home loan package, for example, 4.88% for first 5 years, and BLR - 2.0% thereafter. Another plus point is that this calculator can display the amortization of the loan package.
  3. Flexi calculator: This is a quite powerful home loan calculator that you can use to calculate extra payment/interest rate adjustment to the loan payment. Amortization table is also available with this calculator.
If you do find some other home loan calculators that are useful, do let me know!

1 comment:

Robert F. Crocker said...

One more document to know about is the Written List of Providers. This is a list of providers for a variety of services that homebuyers may shop for. It provides the type of service, estimated cost and contact information for the provider. Homebuyers are not required to use a provider from the list. loan yantra bangalore

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