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Use These 10 Calculators to Answer Your Biggest Home Financing Questions

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Buying a home can be the biggest financial decision most people ever make. Use these financial calculators to help answer your home-buying questions – before you make that big decision.

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Use these housing calculators from the Defense Department Office of Financial Readiness to:

  • Compare rental to purchase costs
  • Compare a 15 vs. 30 year mortgage
  • Estimate total closing costs
  • Understand your estimated monthly payments
  • Explore purchasing mortgage points

The following Military OneSource financial calculators can help answer more home finance questions. (Note: you must log in to, or create a Military OneSource account to access these calculators.)

  1. What size mortgage can I afford? Most lenders decide whether or not to offer you a loan based on your total monthly gross income and your monthly expenses. This calculator can help you estimate how much you might borrow for a home.
  2. What size home can I afford? Trying to figure out your budget? This calculator determines the most expensive house you can buy based on the highest payment you can afford.
  3. Should I consider a fixed-rate mortgage? Figure out what your principal payment might be, plus what you might pay in interest, for a fixed-rate loan.
  4. Should I consider an adjustable-rate mortgage? Determine the estimated payments and interest for an adjustable rate loan — where the rate increases by the maximum amount allowed at each interval, until it reaches the rate cap.
  5. Should I consider a mortgage with a balloon payment? This calculator estimates the cost of a mortgage with a balloon payment; using monthly interest, compounding interest and monthly payments.
  6. How much will I save by increasing my mortgage payment? Find out how much money you can save if you add a few dollars to your monthly mortgage payment. Over time, making a larger payment can reduce the principal on your mortgage, the number of payments you make and the amount of interest you pay over the life of the loan.
  7. Should I refinance? If you already own a home, use this calculator to weigh the cost of refinancing against the interest you pay on your current loan.
  8. Should I consolidate my loans? With this calculator, you can enter up to 10 different loans or credit cards to determine the pros and cons of consolidating your debts.

While these calculators can be extremely helpful for determining estimates, it is important to remember that the information you receive is hypothetical and may not apply to your individual situation. For more comprehensive answers to your financial questions, contact a personal financial manager at your installation Military and Family Support Center. You can also access short-term financial counseling through Military OneSource. Call 800-342-9647, use OCONUS calling options, or schedule a live chat.

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