Which Calculator Do You Need?

I.    Pre-purchase: I'm wondering about whether to buy a home.

II.   Purchaser: I am planning to purchase, or have contracted to purchase but not yet closed.

III.   Owner: I own a house with one or more mortgages.

IV.   Loan Officer: I need to check an APR.

A.   Should I consolidate non-mortgage debt in my purchase mortgage?
B.   I want the payment on a fixed-rate mortgage.
C.   I want the payment and amortization schedule for one mortgage.
D.   I want to compare the cost of two mortgages.
E.   I want to know the break-even period on paying points.
F.   I want to know the rate of return on an investment in points.
G.   I plan to put less than 20% down and want to compare the costs of various options.
H.   I want to know the rate of return on an investment in a larger down payment.
I.   I want to calculate lender fees from the interest rate and APR.
J.   I want to know whether selecting a shorter term on an FRM is a good investment.
K.   I want to know whether I can profit by taking a longer term and investing the cash flow savings.

C.   I want the payment and amortization schedule for one mortgage.

1.   Fixed-rate mortgage, including tax savings.
2.   Fixed-rate mortgage, including property appreciation.
3.   Fixed-rate mortgage, with temporary buydown.
4.   Fixed-rate mortgage, with Graduated Payments.
5.   Adjustable-rate mortgage without negative amortization.
6.   Adjustable-rate mortgage with negative amortization.
7.   Adjustable-rate mortgage with flexible payment options.

D.   I want to compare the cost of two mortgages.

1.   I want the answer in dollar costs.
2.   I want the answer as a percent cost, similar to an interest rate.

E.   I want to know the break-even period on paying points

1.   On FRMs
2.   On ARMs

F.   I want to know the rate of return on an investment in points

1.   On FRMs
2.   On ARMs

G.   I plan to put less than 20% down and want to compare the costs of various options.

1.   A first mortgage with mortgage insurance versus a piggyback - first plus a second
2.   A first with mortgage insurance versus a first with a higher rate
3.   Two piggybacks
4.   A first with mortgage insurance versus piggyback versus first with higher rate

A.   I'm interested in paying down the balance by making extra payments.

1.   I want to see the impact of extra monthly payments on the loan balance and interest payments
2.   I want to know how much extra I have to pay every month to pay off in a certain period
3.   I want to see the impact of going on a biweekly payment schedule

I.   I'm interested in the possibility of refinancing.

1.   Purpose is to lower costs or payments
2.   Purpose includes consolidating non-mortgage debt.
3.   Purpose is to raise cash as alternative to new second mortgage.
4.   Purpose is to convert ARM to FRM
5.   Generate a Refinance Break-Even Table

D.   I want to compare the cost of two mortgages

1.   I want the answer in dollar costs:

a.   FRM versus ARM with no negative amortization
b.   FRM versus ARM with negative amortization
c.   Two FRMs
a.   Two ARMs, both with no negative amortization

D.   I want to compare the cost of two mortgages

2.   I want the answer in as a percent cost, similar to an interest rate:

a.   FRM versus ARM with no negative amortization
b.   FRM versus ARM with negative amortization
c.   Two FRMs

A.   I'm interested in paying down the balance by making extra payments

3.   I want to see the impact of going on a biweekly payment schedule:

a.   Payments will be applied monthly
b.   Payments will be applied biweekly

I.   I'm interested in the possibility of refinancing.

1.   Purpose is to lower costs or payments:

a.   Refinance one mortgage into one mortgage
b.   Refinance one mortgage into two mortgages
c.   Refinance two mortgages in one or two

I.   I'm interested in the possibility of refinancing.

2.   Purpose includes consolidating non-mortgage debt:

a.   I have one mortgage
b.   I have two mortgages