Mortgage and Financial Calculators and Notes

Financial Calculators provided by Hugh Chou

Annuity   - Find out how much to put away tax deferred to get a certain amount of money in the future, and how much you could expect to draw out of that money.

Annuity2   -  Require minimum withdrawals using the IRS single life expectancy table. At 70 1/2 you are forced to withdraw the minimum. Note that joint life minimums withdrawals would be smaller.

Apr2   -  You enter the interest rate of your loan, the points and costs and the loan amount. It figures the rest.

Armey   -  The Armey proposal is a single flat rate for everyone, and the elimination of all deductions. The rate would be 17% and the standard deductions would be raised accordingly. A big proponent is Steve Forbes though his proposal is slightly different.  This calculator now calculates his proposed tax as well. Phil Gramm wants to use a 16% rate with lower exemptions.

Balloon  - Convertible balloon mortgages are getting more popular since they provide lower rates than conventional 30 year mortgages while still giving a fixed payment schedule for 5 or more years. The risk is what happens after the initial fixed period is over and you have the possibility of converting your loan. This calculator tries to answer those questions.

Biweekly   -  Calculate the effect of making payments on your mortgage on a biweekly basis as opposed to the traditional monthly payments.

Compound   -  This calculator simply takes the final amount you want to earn given an initial investment for a duration of time, and finds the required annual yield you would need to achieve that goal.

Annuity Contribution Calculator   -  This calculator allows two different yields, one before retirement, one during. Find out how much to put away tax deferred to get a certain amount of money in the future, and how much you could expect to draw out of that money.

Consumer Price Index (CPI) Multiplier  -  A little calculator to compare USA consumer prices over the years using the government's statistics.

Defer   -  This calculator computes the effects, on principal and loan payments, caused by deferring starting payments for 60 and 90 days.

Dole   -  Based on Bob Dole's tax proposal

Duration   -  How will prepaying change your loan?  This calculator takes a principal amount, interest rate, normal length of the loan and either how much total a month to pay or how long you want to pay.  The calculator works for credit cards and other non amortized lines of credit that use simple compounding of interest.

Estate   -  Calculate how much Estate Tax you will to pay.

Genloan   -  This generic loan calculator calculates total amount repaid and the total amount of interest paid on a loan.

Howmuch   -  Calculates how much house you can afford. Calculator considers Maximum PITI Debt Ratio and Maximum Total Debt Ratios.

Invcomp   -  Compare two investments and growth in value of the investments over time.

IRA Minimum Withdrawals  -  Calculator shows the minimum withdrawal requirements for a Traditional IRA.

Lease   - This "How much does it cost to lease?" calculator takes a Manufacturer's Suggested Retail Price (MSRP), bargained discount (%), down payment, lease length and lending rate to calculate estimated lease payments.

Loan   -  Here is a new twist on the mortgage calcuator. Here you tell how much you want to spend each month, an interest rate and a loan amount, and the computer tells you how long it will take you to pay it off!

Loancomp   - This calculator allows you to do some interesting comparison of loans. You can compare loans with different balances, rates and payments and see how much interest you save as the loan progresses. This is good for comparing loans for a refinance to see how long it will take to recoup closing costs.

Lunch   -  Calculate the small forture you can amass by eating at home or by eating home prepared meals at work.

MDIB   -  This calculator lets you build up your traditional IRA or 401(k) balance up until age 70 1/2 when you must start making taxable distributions. It then uses the "recalculation" method for three cases to determine your minimum withdrawals in following years. The remainder of your balance grows tax deferred in the account until withdrawn.

Millionaire   -  Enter your starting balance, your desired ending balance, monthly contribution and interest rate. The calculator will compute how long it will take until you reach your financial goal (default = $1,000,000). Of course that million won't be worth very much way, way in the future. Put in an inflation factor and the calculator will show you what your financial goal will be worth then.

Missing   -  This calculator finds the missing variable for a loan. If you know the payment, term and the loan amount it calculates the interest rate. If you know the payment amount, loan amount and the interest rate, the calculator calculates the term.

Mortmail   -  Have an amortization schedule emailed to you.

Neir   -  Nominal and Effective Interest Rates - Calculate what rates are necessary to achieve a desired future value amount given a present value amount and the time period over which to compound your investment.

Pre Pay Mail   -  Have your Amortization Schedule E-Mailed to You! This calculator gives you the ability to create amortization schedules which are e-mailed directly to you for easy reading and printing.

Prepay   -  This calculator allows you to see how prepaying your mortgage reduces the length of your mortgage by putting in the current values for your loan.

Prepay vs Invest   -  This calculator allows you to compare what would happen if you took one of two choices with some extra cash you have -- prepaying your mortgage each month, or investing it instead. This calculator tries to take into account your tax situation.

Quailfy   -  Mortgage Qualification Calculator - The calculator will try to calculate what amount of income lenders will expect you to be making to qualify for a specific size loan.

Rdur   -  Retirement Payout Calculator - This calculator takes a account balance and interest rate and determines either how long you can withdraw a fixed amount of money from it, or how much you can withdraw over a fixed amount of time.

Register   -  Registering to Get The Scripts - To get a copy of Hugh Chou scripts all you must do is pledge to contribute a minimum of $ 10 to one of Hugh's selected charities. If this is not possible, e-mail Hugh and you can work something out. Please be generous, the charities need your money much more than the government does!

Rent vs Buy  -  Rent or Buy - This calculator allows you to compare renting versus buying by entering how much you want to spend a month and how much down you would put into your house.

Retire   -  This simple retirement calculator tells how much you will need to provide a certain income for a set number of years.

Roth2   -  Roth vs Traditional IRA Calculator

Rule78   -  Under Rule of 78 loans the amount of your interest paid each month is determined using a fixed linear scale.

Savings   -  Simple Savings Calculator - Use average balances, not ending balances for compounding. This calculator doesn't deal with inflation, taxes or any of that complicated stuff. This calculator is just a simple calculator that lets you start with an amount of money and make regular monthly deposits, and see how much it grows. For more complicated scenarios, see the tax deferred anuity calculator or the prepayment versus investment comparison.

Smoking   -  Stop Smoking and Save Calculator - Calculates how much you could save by not smoking and by instead saving the money spent on smoking.

Tuition   -  This handy unique calculator computes the cost of sending more than one child to college and what you need to start saving on a regular basis to meet that expense when it becomes due.

Wealth   -  Wealth Percentile Score Calculator is based on a table at Scott Burn's web site that breaks down the wealth distribution by age as a percentile. This table allows you to interpolate between numbers to get a nice percentile score for your wealth, for anything above the median. The interpolation shouldn't really be linear, but hey, this is just for fun. So enjoy.

Yield   -  Enter your starting balance, your desired ending balance, monthly contribution and number of years. The calculator will find what monthly yield would be required.