News Column

On The Money: Calculating a Manageable Mortgage

Oct. 8, 2012

Chuck Myers


Although mortgage rates continue to reach new record lows, the search for a home mortgage to fit the family budget can still prove a challenge.

Several websites offer online calculators with a variety of features designed to help prospective homebuyers gauge monthly mortgage payments.

Here are just a few: Offers calculators to gauge mortgage payment amounts and how much you can afford.

-Federal Reserve: Supplies basic calculators for determining a fixed-rate or adjustable-rate mortgage. Establish the loan amount you can handle using a mortgage affordability calculator. Provides calculators for a variety of borrowing scenarios.

-Mortgage Calculators: Features mortgage calculators, as well as others for borrowing and credit-related topics.

Distributed by MCT Information Services

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