Use these calculators to determine the best personal finance option.
- Mortgage CalculatorWhen 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.
- Mortgage Payoff CalculatorSee how you can pay your mortgage off faster, and save thousands of dollars in interest, by adding a little to your monthly mortgage payment.
- Required Income CalculatorWill 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 Loan CalculatorInterest-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
- How Much Home Can I AffordKnowing 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 vs. Interest Only CalculatorFixed 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
- Mortgage comparison: 15 years vs. 30 yearsIt 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
- Balloon mortgage calculatorThese 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 mortgage calculatorAdjustable 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
- Rent vs. Buy House CalculatorBuying a home entails more costs than what is reflected in your monthly mortgage payment. For some, buying is the right answer, but for others, renting is the way to go. Considering all of the costs and tax implications will lead to a better decision.
- Refinance interest savings calculatorRefinancing your mortgage can generate significant interest savings, but it costs money up front. Finding out whether a mortgage refinancing makes sense for you is your first step.
- Line of Credit CalculatorA home equity line of credit lets you decide how much, or how little, of your debt to repay each month. This calculator lets you create a repayment plan that fits your needs and budget.
- ARM vs. fixed rate mortgageA fixed rate mortgage offers predictable monthly payments for the life of the loan. Adjustable rate and interest-only loans provide lower rates and payments now, but can result in sharply higher payments in future years.
Home Equity Calculators
- Monthly Payment CalculatorMonthly payment requirements can vary, depending on whether you have a fixed term loan or a line of credit that permits much smaller payments.
- Debt consolidation calculatorMaybe 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
- 401(k) calculatorA 401(k) plan is the best way to save for retirement. You'll get significant tax breaks and many employers will match all or part of your contributions. That's as good as getting a raise. Use this calculator to see how you can benefit by building a substantial nest egg.
- Create a monthly budgetYou'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.
- Create a monthly budgetYou'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
- Certificate of deposit calculatorComparing 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 ladder calculatorCD 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
- Reach your goalHow 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 IRA calculatorRoth 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
- Create a retirement planCalculate 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.
- Calculate your net worthYour 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.
- Traditional IRA calculatorIndividual 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.
- Savings CalculatorThe power of compounding is the magic that can turn small, regular investments into a substantial pile of money over time. Investing early and often are the keys to building wealth.
- Saving a million dollarsHere's what it takes to build a seven-figure nest egg by the time you're 65. You'll find that the first $100,000 is the toughest. But your balance will soar as you near retirement. If you're a little short of the million mark, hit the "View Report" button for suggestions on how to build your wealth a little more quickly.
Credit Card Calculators
- How much do you owe?Starting a debt repayment plan begins by figuring out how much you owe on credit cards, auto loans, and other obligations. It may be a real eye-opener!
- Roll-down your credit card debt!Paying off credit card debt requires a lot of discipline and a good strategy. Pull together any funds you can to accelerate your debt repayment. Pay off your highest interest rate debt first, and when that balance is paid in full, apply the extra payment amount to the card with the next highest interest rate. By making the same monthly payment even as your debt diminishes, you will drastically reduce the total interest costs and the amount of time to repay the debt
- Paying off a credit cardUse this calculator to see how long it would take to eliminate the balance on a single credit card depending on how much you increased, or decreased, the monthly payments
- Minimum payment calculatorIf you're only making the minimum monthly payment on your credit cards it will take a long time to eliminate those debts and you'll pay a fortune in interest along the way. This calculator will show you how long and how much
- Balance transfer calculatorMoving your debt from high-interest to low-interest accounts can save a lot of money. This calculator will figure out the best way to distribute your debt among your credit cards
- Accelerated repayment planStart by calculating how much you can save each month by consolidating your high-cost debt into a single less expensive loan. Then see how quickly you can pay it all off by adding some of that savings to your monthly payment.
- Auto loan calculatorBuying a new car without busting the household budget is a real struggle. A good first step is to determine how much you can afford, both in terms of a monthly payment and the price of car you can afford.
- Rebate vs. low-cost loanAutomakers often offer buyers the choice between a cash rebate or cut-rate loan. This calculator lets you compare the savings and find the best deal
- Payoff your car more quicklyYou can save hundreds, if not thousands, of dollars on interest by adding a little extra to your monthly car payment. The longer your loan, the greater the benefit. Our report will give you a complete amortization schedule
- Buy or leaseThe decision to lease or buy a car boils down to more than monthly payments. Determining the total net cost of either alternative will help you determine which is the better value
- Low interest financing calculatorThe low, promotional interest rates offered by many dealer finance companies and other lenders can lead to tremendous savings on your next vehicle purchase. Lower interest rates mean lower monthly payments and lower total interest costs
- Low interest financing calculatorThe low, promotional interest rates offered by many dealer finance companies and other lenders can lead to tremendous savings on your next vehicle purchase.
- Student loan consolidation and debt payoffThis calculator applies two simple principles for getting out of debt more quickly. Start by seeing how much you can save by consolidating your student loans. Then apply that savings to credit cards, auto loans and other high-cost debt to pay them off more quickly
- Amortizing loan calculatorPerhaps you're curious about what the monthly payments will be on a particular loan amount, or how much you can borrow for a specific monthly payment. These are important elements to ensure you take a loan you can truly afford