Mortgage Calculator

1. Fill out all the fields in the loan calculator, except the $ Borrowed
2. Click the "Compute" button

1. Fill out all the fields in the loan calculator, except the $ Payment
2. Click the "Compute" button

If you are pre-qualified at a bank, you should use the rate you were quoted in the loan calculator. You could also go to the websites of various banks and see what they are lending at.

Interest rates vary a lot, depending on your credit rating, whether you will live on the property you are financing, and the rate your selected bank is willing to loan at. In general, fixed rates tend to be roughly a percentage or two above the prime rate for a 30 year Treasury Bill, if you have excellent credit. Floating rates will adjust regularly (often annually) according to changes in the shorter Treasurey Bill rates. Always check with your banker for exact rates.

The following site posts the current 30 year Treasury Bill rates, and their forcasted values. http://www.forecasts.org/30yrT.htm