Sunday, July 20, 2008, 2:42PM ET - U.S. Markets Closed.

Real Estate

Compare A 'No-Cost' Versus Traditional Mortgage

Very Good (75 Ratings)
3.893332/5

Many lenders will offer a "no-cost" loan in lieu of a traditional mortgage. "No-cost" loans are generally priced at a higher interest rate than a traditional mortgage so that the lender can pay for all your closing costs and provide them with their profit. Use this calculator to help determine if a no-cost loan with your lender may be less expensive than a traditional mortage.

Mortgage Rates and AssumptionsInput
$
(1-40)
Mortgage Rates and AssumptionsNo-Cost LoanTraditional Mortgage
(0-30)% (0-30)%
Traditional Loan Closing CostsInput
(0-5)%
(0-5)%
$
$
$
$
$
$
$
$
$
$
$
Comparison AssumptionsInput
(0-30)%
(0-50)%
(1-40)
See All Calculators
Reset FormSubmit
Mortgage Input And Assumptions
"No-Cost" LoanTraditional Loan
See All Calculators
Print PageBack to Input Form
{ "WS" : "ads1.finance.vip.sp1.yahoo.com/CalcService", "fields" : { "udata" : [ "loan_amount" , "term_years" , "tax_bracket" , "comparison_year" ], "rdata" : { "results_paragraph" : "results_paragraph" , "investment_return" : "simple" , "monthly_payment1" : "simple" , "monthly_payment2" : "simple" , "pv_loan1" : "simple" , "pv_loan2" : "simple" , "remaining_balance1" : "simple" , "remaining_balance2" : "simple" , "closing_costs" : "simple" , "total_cost1" : "simple" , "total_cost2" : "simple" , "chart" : "chart" , "years" : { "year" : [ { "name" : "@year_number", "label" : "Year" } , { "name" : "@nocost_payment", "label" : "No Cost Payment" } , { "name" : "@nocost_savings", "label" : "Tax Savings" } , { "name" : "@nocost_balance", "label" : "Loan Balance" } , { "name" : "@nocost_pv", "label" : "Today's Value of Outlay" } , { "name" : "@traditional_payment", "label" : "Traditional Payment" } , { "name" : "@traditional_savings", "label" : "Tax Savings" } , { "name" : "@traditional_balance", "label" : "Loan Balance" } , { "name" : "@traditional_pv", "label" : "Today's Balance of Outlay" } ] } } } }
Powered By Calc XML logo

This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

Rate This calculator

Very Good (75 Ratings)
4/5
Sign-in to rate!

Rates

See today's average rates across the country.

View rates in your area

More from Yahoo! Sources

  • CNN Money
  • Consumer Reports
  • Kiplinger
  • The Motley Fool
  • Business Week
  • Wall Street Journal

Sponsored Links

mortgage refinance calculator
Easy to Use, Powerful Calculators & a Free Mortgage Lender Directory.
www.Move.com
Compare Mortgage Calculators
Find the right mortgage. Compare the top Mortgage Calculators here.
www.Mortgages-Calculators.info
Mortgage Loan Calculator
A hassle-free application for home or commercial loans. Let the lenders compete over you. Stop searching. It's that simple with SimpleResults.com.
www.simpleresults.com
Blended Calculator Mortgage Rate
Help with the demanding requirements of Federal Regulation Z.
www.mathcorp.com
Mortgage Info
Get info on mortgages from multiple sources.
www.DeeperDig.com
Free Home Loan Mortgage Calculators
19 free mortgage calculators - calculate your payment schedule and save it to a PDF document.
www.thehomeloanguide.org