How to Use a Mortgage Rate Calculator Refinance

12:55 AM April 25, 2019

Refinancing your home may be something that you are considering as a homeowner. You probably have a few different reasons for researching this mortgage topic after contacting a real estate agent and get no clear answers. You may be trying to pay off some of your past debts, and refinancing might be a way to take care of this.

The holdup is that you are not sure about what rates you are eligible for, and you may lack a good idea of what the refinancing process entails. One critical step in determining what you can afford is using the mortgage rate calculator.


Do not be embarrassed, as we realize this topic can be intimidating. We have presented several of the best mortgage calculators online that will help you figure out the loan term and rate you qualify for, and put your mind at ease.

Why do I need a Mortgage Calculator?

Mortgage calculators are helpful in guiding you to figure out how much your monthly mortgage payments will be.  You can input different numbers and experiment with different home prices on these calculators to get an idea of what different home valuations may require, in regards to financing.

The Best Mortgage Calculators Online


We have picked several of the best mortgage calculators online for you to try out and consider. The first mortgage calculator is from Zillow. It can be found at  One of the reasons why it’s of our favorites is due to the simplicity that it offers the user. It is very simple to use, has payment details listed, shows schedule, tax amounts, and other essential financial information.

There is one section where you can enter your zip code, and the calculator will pull up an almost exact estimate for your monthly mortgage payment. This is a great way to help you figure out your mortgage requirements quickly and easily online.

The Zillow mortgage rate calculator will show you the rates, and even provide the interest rates that are attached to the different loan sizes. Then, there is an animated portion of the calculator that will create a graph of your payments and payment schedule. There are other calculators offered on Zillow as well. If you scroll down to the bottom of the page, there’s a section about additional “mortgage calculator help.”

This section includes helpful numbers that are important to look at home prices, down payment amounts, loan programs, interest rates, property taxes, and home insurance options.

Update Mortgage Rate Mortgage Calculator


This one made the list because of its simplicity and no-frills approach. It just gives you the info you need without trying too hard to sell you on anything. The mortgage calculator is found at It is very user-friendly and plain and simple. For many, the 30-year fixed rate mortgage is a better option.


It offers everything you need to estimate your payment without adding anything unnecessary to the user experience. You only get the information you need without any ads cramping up the space on the page. Give it a go today at

Bankrate Mortgage Calculator

Bankrate Mortgage Calculator

Our next favorite mortgage payment calculator is found at The calculator is offered through Bankrate. This is a very user-friendly mortgage calculator and has an appealing, colorful design on the interface. It has an area in which you can slide the ticker to adjust the home price, this will help you figure out if you can afford a particular house, and how much you will be paying in monthly mortgage payments.

This calculator data is broken down into different categories. These are credit score, zip code, and HOA fees. These sub-categories further analyze your financial requirements to give you an even more accurate depiction of the house that you can afford. Bankrate wants you to have a better and clearer idea of what you’re signing up for when buying a home.

Once you have used their calculator, Bankrate presents educational articles and additional information regarding refinancing,  fixed rate mortgages, and the entire home-buying process. Other third-party companies are listed on the web page that can also help with your refinancing needs, or answer any mortgage/home purchasing questions.

Really Simple Calculator

mortgage calculator

If these mortgage calculators are too much for you, and you need something really simple, this is the simplest one we can find. It is located at This mortgage calculator site is by far one of the best, easiest, and simplest calculators to use online. It has different types of calculator categories, giving you some additional details that may prove useful. It shows you a loan breakdown, and it will display the best rates in your zip code as well, giving you an idea about local housing requirements.

You can enter how much the home is worth, the down payment that you are putting into the home, the loan amount, the interest rate, the life of the loan, and when you will begin the loan. The loan calculator will then inform you of what your payments will be for that mortgage situation.

After you have entered the information, you’ll get a mortgage repayment summary, too. It will list your monthly payment, the expected loan pay-off date, and other details. It is very simple, and an extremely useful tool to break down your payments and the options that are available to you. It’s not too busy, complicated, or bloated, and gives you a lean summary of your affordable financial situation. Simplicity is key.

This mortgage loan calculator will provide a list of lenders displayed on the middle of the page, just like other standard mortgage calculators. We recommend this calculator for a quick and efficient snapshot of your financial requirements, or for the interested home buyer who wants to quickly scan their financing options.

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All three of these mortgage calculators offer something to the individual who is considering the process of becoming a homeowner. Whether you want something very simple, or a mortgage calculator with all the “bells and whistles”

One of these calculator options will get the job done. Mortgage calculators will guide you in the right direction, and soon you’ll be able to make the best decision based on your home buying and refinancing requirements.

Published April 25, 2019; UPDATED May 17, 2019.

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