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Watercooler: How to calculate a manageable mortgage

Published October 26, 2012 6:45 pm

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Although mortgage rates continue to reach record lows, the search for a home mortgage to fit the family budget can still prove a challenge.

Several websites offer online calculators with a variety of features designed to help prospective homebuyers gauge monthly mortgage payments:

Bankrate.com • This calculator helps you figure out how much of a mortgage you can afford, at http://bit.ly/XVirD.

Federal Reserve • Supplies basic calculators for determining a fixed-rate or adjustable-rate mortgage, at http://1.usa.gov/OrjCJI.

Homefair.com • Establish the loan amount you can handle using a mortgage affordability calculator, at http://bit.ly/yg0zgb.

Interest.com • Provides calculators for a variety of borrowing scenarios, at http://bit.ly/Hc4mY1.

Mortgage Calculators • Features mortgage calculators, as well as other tools to help with borrowing and additional information on credit-related topics, at http://bit.ly/Ork2Qn.