Unlike most mortgage calculators that give possible home buyers limited information on the probable cost of the property they are intending to buy, Karls Mortgage Calculator gives a complete and comprehensive quotation of any property as long as every detail has been included. The service it provides is not just basic; it makes sure that everything a person needs to know about the cost of the property is handed to him. The quotations it give to the users are guaranteed to be a lot closer to what the loan officer would probably tell as compared to other cheap mortgage calculators.

Users could add the estimated annual mortgage insurance on the home. They may also input property taxes to ensure that no detail is taken for granted. Once the data have been gathered, Karls Mortgage Calculator will then compute the possible monthly payment, overall interest, the real interest paid and the percentage of the total interest.


To determine the differences in the interest and the savings, one could also add prepayment data to the mortgage calculator. These prepayment data include one-time prepayment amount, monthly prepayment and the annual prepayment. The user should include the start date on each of the prepayment data to ensure that results would be accurate. The changes will then be seen on top of the page as indicated by a detailed graph. There would also be an annual table that predicts the interest and the principal for every year. This also comes with the mortgage balance and the monthly payments.