| Atlantic Home Loans offers several "dynamic" calculators
that allow you to view many different scenarios. To begin,
please click on the type of calculator you would like to use. As
always, please call 877-833-7272 if you have any questions.
Thank you. |
The home affordability calculator helps you determine your maximum
affordable home price based on monthly income, debts, interest
rates and the length of your loan. Use the sliders to explore
your options. To enter an exact number, click on a number in
an edit box and type in the number you want. |
The Should I pay more down? calculator will help you compare the benefits
of different down payment options. For example, if you have high savings rate,
you may want to make a lower down payment and keep the rest of money in the
bank collecting interest. For most homebuyers it makes sense to make a higher
down payment because it will result in lower monthly payments and less interest
paid on the loan. |
The Fixed vs. Adjustable calculator will help you determine whether
you should choose an fixed rate loan or an adjustable rate loan.
The interest rate for a fixed rate loan stays the same for the
life of the loan. But with an adjustable rate mortgage (ARM),
the interest rate fluctuates periodically based on an index like
the U.S. Treasury Security Yields (1 Year T Bill), the Cost of
Funds Index (COFI) and the London Inter-Bank Offer Rate (LIBOR)
|
The Should I Refinance? calculator will help you determine whether refinancing
your loan for a lower interest rate is a wise decision for you. While a lower
interest rate will mean lower monthly payments and less total interest, a refinance
will also mean paying closing costs and, in some cases, points. If the monthly
savings exceeds these closing costs, refinancing is a good option. To determine
how many months it will take to break even with closing costs, you'll need
to enter your loan details into the calculator using the diamond-shaped sliders
or by entering the exact numbers in the Current Loan section.
|
The Points vs. No Points calculator will help you determine whether or not paying
for points is the best option for you. Points are sometimes referred to as
loan discount points. Points are prepaid interest on your loan. Usually, homebuyers
will pay points to lower the interest rate and save on taxes, since points
usually tax deductible as interest, You may want to follow the rule of thumb
that says that the longer you intend to keep the loan, the more points you
should consider |
The Biweekly Mortgage Calculator helps you analyze your mortgage needs. It computes
the biweekly mortgage payment in comparison to the regular mortgage. You to compute
one of the following variables and can modify the others. That means that in
the calculator, you click on the button with the same label as that listed in
the left-hand column, below. Use the sliders to explore your options. To enter
an exact number, click on a number in an edit box and type in the number you
want. |
This calculator allows you to estimate the costs of owning a home and the costs
of renting and allows you to evaluate which option to take by comparing them.
There are several factors determining the overall costs of renting or owning.
|
The Home Mortgage Loan Calculator helps you analyze home mortgage loans. How
much can you afford to borrow for how long at what interest rate |
