When purchasing a new home most buyers choose to finance a portion of the
purchase price using mortgage. Prior to the wide availability of
mortgage calculators, those wishing to understand the financial
implications of changes to the five main variables in a mortgage
transaction were forced to use compound interest rate tables. These tables
generally required a working understanding of compound interest
mathematics for proper use. In contrast, a Mortgage
Calculator makes
answers to questions regarding the impact of changes in mortgage variables
available to everyone.
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