NewJerseyRates.com offers several "dynamic" calculators that allow you to view many different scenarios for financing New Jersey real estate.  To begin, please click on the type of calculator you would like to use. 

The home affordability calculator helps you determine the maximum affordable price for the piece of New Jersey real estate you are interested in 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 put 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 New Jersey home buyers 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 a fixed New Jersey mortgage or an adjustable rate mortgage. 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 current New Jersey mortgage 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 New Jersey mortgage. Usually, home buyers will pay points to lower the interest rate and save on taxes, since points are 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 New Jersey mortgage needs. It computes the biweekly mortgage payment in comparison to the regular mortgage. You have the ability to compute one of the following variables while modifying 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 piece of New Jersey real estate 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 New Jersey mortgage loans. How much New Jersey real estate can you afford to borrow for how long at what interest rate?