Calculators

When shopping for a mortgage, it is important to evaluate the total cost of the loan. The annual percentage rate (APR) reflects the total cost of a loan by taking into consideration the interest rate plus any points and fees paid.

See how you can pay your mortgage off faster, and save thousands of dollars in interest, by adding a little to your monthly mortgage payment.

Will you qualify for a loan to buy the home of your dreams? Finding out the income necessary to qualify for a specific mortgage amount will answer your question.

Interest-only mortgages promise low initial payments because borrowers repay none of their debt for the first several years. But payments can soar when the introductory period ends and they must start paying off the principal. Most interest-only loans also come with adjustable interest rates, which usually begin resetting at the same time

Knowing how much you can afford to borrow is an important piece of information during the home shopping process. The size of mortgage you can afford depends on factors such as interest rates, your current income and monthly debt payments.

Fixed rate mortgages offer a stable interest rate and predictable monthly payment for the life of the loan. Interest-only loans are very different, often featuring an interest rate that will adjust in the future, as well as requiring the eventual repayment of the principal. Sharply higher payments in future periods can result

It can be a challenge to determine what is the right mortgage for you. With a 15-year mortgage you'll pay much less in interest but have to make much larger monthly payments. A 30-year loan provides more manageable payments, but by doubling the repayment period, the interest tally mounts

These loans are usually five to 10 years long and expect borrowers to repay only a fraction of their debt during that time. While they're often easier to qualify for than a traditional 30-year loan, and charge lower interest rates, there's a big catch. When a balloon mortgage ends, borrowers must payoff the remaining balance, usually by refinancing or selling the home

Adjustable rate mortgages involve a trade-off. The borrower gets a lower interest rate initially, but must bear the risk that interest rates rise in future years. However should interest rates decline, the borrower stands to benefit. The loans typically are repaid over a 30 year period, but monthly payments may go up or down over that period of time, depending on the movement of interest rates

Monthly payment requirements can vary, depending on whether you have a fixed term loan or a line of credit that permits much smaller payments.

Maybe you are struggling to juggle your many different debt obligations. Perhaps a debt consolidation is in order. Consolidating your debt can reduce your payments and your total interest costs

You'll manage your money more wisely if you know what you're spending it on. Enter your monthly income and expenditures into this calculator to see exactly how much you have and where it's going. Click the "view report" button to compare your spending pattern with our targets, which can help identify areas for improvement

Comparing interest rates and compounding methods on different CDs can be confusing. The annualized percentage yield (APY) takes both into consideration and makes comparison much easier. Determining the interest earnings from a particular CD is helpful in evaluating potential investments

CD investors may be reluctant to invest too much money at one time, especially if better interest rates may be available later. Fortunately, a CD ladder is a great solution because it involves diversifying among a range of different maturity dates. The investor benefits by maintaining regular access to money, while obtaining the higher yields available on longer maturities

How much do you need for the down payment on a house, your kid's college education or retirement? Set a goal and this calculator will show how much you must set aside each month to achieve it. Click "View Report" for detailed information about your plan, and how to tell if you're on track.

Roth IRAs are the best type of Individual Retirement Accounts. Although contributions aren't tax deductible, as they are with traditional IRAs, the earnings in your account are never taxed. That's a huge advantage. Use this calculator to see how your savings can grow more quickly in a Roth IRA than a taxable account

Calculate how much you'll need to retire comfortably, with a reasonable monthly income. Then see how much you need to save each month between now and when you stop working to achieve that. You can include Social Security, or not. It's up to you.

Your net worth is the value of all your assets, minus the total of all your liabilities. Think of it as your financial score in the game of life and a great way to track your financial progress. Don't despair if you have a negative net worth right now because of student loans or credit card debt. As long as that deficit is shrinking, you're on the right track.

Individual Retirement Accounts are a great way to save. Traditional IRAs allow you to defer taxes on contributions and earnings until you retire, when you'll probably be in a lower tax bracket than when you're working. This calculator shows how your savings can grow more quickly in an IRA than a taxable account.