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Welcome > Resources > Mortgage Calculators > 15 vs. 30 Year Mortgages ...

The Best Mortgage Calculators On the Web!

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it!

Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules.

The mortgage repayment schedule and other reports are fully customizable - just for your home, your interest rate, your loan amount, your taxes, and more.

Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you...

15 vs. 30 Yr Mortgages

Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.

This Financial Calculator requires a Browser with Java Support

Definitions

Mortgage amount: Original or expected balance for your mortgage.
Interest rate: Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.
Marginal tax rate: This is your combined state and federal tax rate. This is used to calculate your potential income tax savings by deducting your mortgage interest.
Monthly payment: Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.
Total payments: Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
Total interest: Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

School Reports in Powhatan, Chesterfield and Amelia, Virginia

"A model of how the Internet can facilitate the process of deciding where to send your children to school"
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Virginia Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.

Schools in Powhatan, Chesterfield and Amelia

First Time Buyers >More Down Payment Help

One of the most common deterrents to first-time home buyers is the lack of a down payment. However, the home loan industry has practically re-created itself in the last ten years, making it easier than ever to obtain a mortgage, and new mortgage programs are always cropping up.

Some states sponsor loan programs that allow buyers to purchase a home without putting any money down. A parent or other relative can guarantee repayment of ten percent of the loan if the buyer defaults. The only cash needed is for the closing costs, which typically run about three percent of the loan. Parents can also give their children down payment help through a personal note or second trust deed. The terms can be set up for monthly payments or annual payments amortized over a period of time. You could pay the interest only, and have the payoff due when the property is sold.

With so many alternatives, doesn't it make sense to call your real estate agent for a free consultation? You may be closer to home ownership than you think.

	See All Tips In The "First Time Buyers" Category >
	See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q	What document must lenders provide within three days of receiving your application for financing?
A	The "Truth In Lending Disclosure Statement" will give you complete financial information about the loan.
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Denise Woods, REALTOR®, real estate agent and broker for Powhatan, Chesterfield and Amelia, Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

Denise Woods
RE/MAX Commonwealth Group
3430 Anderson Hwy #E
Powhatan, VA 23139
Office: 804-598-0007
Fax: 804-423-2411
Cell Phone - Denise: 804-337-4410
Cell Phone - Cathy: 804-921-4814
Denise Woods: Denise@denisewoods.com
Cathy Gusti: Cgusti@remax.net
The Denise Woods Realty Team combined has more than 25 years of experience in the real estate industry. We have helped OVER 1,000 (ONE THOUSAND) families with their real estate needs. Denise and Cathy focus on superior customer service with our clients! We love what we do!

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