Tag Archives: calculators
But Why Use an Online Mortgage Calculator?
An online mortgage calculator can be used to help you to determine just how much it is you can afford to borrow in order to purchase the property of your dreams. These types of mortgage calculators are helpful in that you will be able to compare the costs of several real interest rates with regard to various different loans. It will also help you to determine what impact the length of the mortgage will have whether you add principal payments or you pay bi-weekly instead of each month. All of the online mortgage calculators you find on the internet today are automated tools which enable you to quickly determine what the financial implications will be in relation to any changes which may occur or any variables that may happen with relation to your mortgage financing. The main variables that these calculators look at in particular are:-
1. The balance of the principal loan 2. The periodic interest rate and the compounded interest rate 3. The number of payments that you may make each year 4. The total number of payments that you will make in order to settle the mortgage 5. What each payment amount will be.
Certainly if you are one of many people who does not have a mortgage as yet and are currently looking for one then an online mortgage calculator may be a very useful tool indeed. You provide such information as what your income is along with your living expenses and this tool will then tell you just how much you are able to borrow. By using this particularly useful little online tool you will may well find yourself saving thousands of dollars as you can compare the various different mortgage loans on offer and so also be able to calculate what the true cost of each of these will be and then find the one that is the cheapest.
The great benefit to be gained from using an online mortgage calculator is that it is designed to carry out all the complex calculations for you rather than you having to sit there and figure them out for yourself. As previously mentioned all you need to do is enter what your annual income is along with any living expenses that you may have and it will then calculate the monthly repayments that you can easily afford each month and from this it will be able to calculate just how much your mortgage loan could be. So if you are looking for a way to easily find out just how much you really can afford when looking to purchase your dream home for the first time then why not go online and see what a mortgage calculator provides you with.
Solutions For Implementing Home Loan Calculators (Page 1 of 2)
Home loan calculators are a kind of calculator that’s often online and enables you to be able to compute a variety of details in relation to mortgage repayments and amortization. Such a calculator may require as inputs your mortgage rate and period as well as the principle balance and additional relevant information. The calculator can then calculate pieces of information such as what your monthly repayments are going to be, what percentage of these repayments will pay off principle compared to interest repayments and sometimes an amortization table that allows you to break your mortgage repayments down by month.
In this article, I wanted to talk about a few of the common technologies which are used in order to implement online mortgage calculators as well as the qualities of these technologies. A few of these technologies include:
PHP together with HTML forms: This is possibly the most widespread implementation of such calculators. Basically, the web site that contains the calculator will contain a form in which you are able to input details about your mortgage (such as the mortgage rate, the principle, etc.) and then presents a button to estimate the repayment details. When this button is clicked, the inputs you’ve entered will be sent to the web server, where the calculations will be executed and another web page will load with the mortgage results. While such calculators are very widespread, the requirement that an additional web page with the results will load in the web browser can be a limitation in comparison to the next technology that’s now being utilized by a number of more popular calculators.
Javascript/AJAX: Javascript is a technology that will run programming code inside your internet browser. A javascript calculator will be able to utilize this code to be able to compute the mortgage information inside your internet browser and then set the results in various parts of your web page. As detailed above, the real advantage of this over the PHP with HTML forms previously mentioned is that you don’t have to have an additional page load whenever you perform the calculations. An additional technology which can be incorporated here is AJAX. AJAX makes it possible for the javascript code to communicate with the web host, which may potentially perform more complicated calculations and return the results. The javascript can then display these results on the web page with no requirement for an additional page load. This technology effectively makes it possible for computations to be performed on a web server without the limitation of the web page reloading from the first outlined technology.
Flash: Flash is a technology created by Adobe, which allows tools such as calculators to be run inside of a web page using Adobe’s flash player. Many people are aware of the Flash computer games that could be located on the internet, and this sort of a mortgage calculator is implemented in the same technology as such computer games.