Morgulator+ is a handy mortgage payment and amortization calculator featuring both standard and Canadian calculations.
• Calculates monthly payments
• Calculates accelerated biweekly payments
• Calculates interest only payments
• Includes monthly extras such extra principal, taxes, insurance, and other costs
• Canadian mode supports biannual interest compounding
• Compares two mortgages and their costs
• Compares current and new mortgage for break even point, including points and fees
• Compares amortization schedules for two mortgages
* Emails mortgage summary
• Keyboard entry plus slider for fast loan amount entry (for non-exact amounts)
• Remembers last data entered and calculated for next time used
Morgulator+ is a useful, user friendly application for quickly computing mortgage payments, comparing loan packages, viewing amortization schedules, and emailing summary results to yourself and others. Morgulator+ is an indispensable tool for quickly assessing the impact of changing interest rates, terms, and loan amounts.
Note on biweekly payments -
Biweekly payments are calculated as 1/2 the monthly payment amount. This is known as an accelerated biweekly payment. By making 26 biweekly payments per year you are making the equivalent of 13 monthly payments each year. Your mortgage may be repaid much faster than by making 12 monthly payments per year. For more information, check out www.dinkytown.net.