A good mortgage calculator saves you time and money when deciding on your next home loan or refinancing your current mortgage.

Armed with the right information, and with the results printed out, you will be able to take it to your bank or financial institution with confidence and get the mortgage that is right for you.

Whether you can afford the home you love depends upon your income and the house's sale price. A mortgage calculator helps you assess various variables before entering the mortgage lender's office so that you already have some idea of the kind of monthly mortgage payment you can afford to pay.

Buying a home is a major decision, but if you pre-qualify for a mortgage, consider all of the financial implications, and work through the various options on a mortgage calculator before approaching a mortgage lender, you will probably find you are financially better off.

Its better to walk into negotiations knowing exactly where you stand, so check all your figures carefully. It's a good idea to create a spreadsheet of the variables you've used in the mortgage calculators and the outcomes. By placing them side by side, you can see variations and differences of the different loans you will discuss with the lender.

Having all of the facts and figures in front of you will help you give your lender the information they need to create the best loan for you. And you will walk away from the loan office with confidence!