Whether you are buying a new home or are already a proud homeowner, it is sometimes nice to predict how your home payments will be for next few years. Understanding your mortgage payments will allow you to budget your finances so that you can achieve your life goals without surprises.
The above New Jersey Mortgage Calculator is very powerful. Use the left column to choose what it is you wish to calculate (monthly payments, cost benefits of refinancing, the difference between renting or owning etc). Enter the information in the right column and click calculate. Not sure about some of the numbers? You can go back and change the numbers as often as you need to get a general idea of the cost of owning a home.