Let’s look at the numbers.
When you’re thinking about buying or refinancing a home, the math can get a little overwhelming. Instead of working the numbers on your old school calculator, play with one or more of Embrace’s financial calculators. These calculators don’t just add up numbers — they also help you get a better understanding about things like monthly payments, affordability, renting vs. buying, and more.
We have four different calculators — Refinance, Mortgage, Affordability, and Rent vs. Buy. You’ll most likely find a couple that fit your situation. If it’s your first home purchase, the Rent vs. Buy and the Affordability Calculators can be helpful, giving you an idea about whether it’s a good time to buy — and if it is, how much you could potentially afford. If you’re happy in your current home but would like to lower your monthly payments, the Refinance Calculator can help show you potential savings. Play with the numbers to learn what makes the most financial sense for you.
Should you refinance?
Wondering if refinancing your mortgage could save you money? If today’s interest rate is lower than the rate on your current mortgage, there’s a good chance it could. Use our Refinance Calculator to determine an estimate of interest you could save over the life of a loan — using your current interest rate versus a new lower interest rate. The calculator will also compare your monthly savings and show you how long it will take to break even. Try our Refinance Calculator now
What will your monthly payment be?
When buying a home, you may have lots of numbers thrown at you — like loan terms, closing costs, and annual property taxes. All of these will affect your monthly mortgage payment. Our Mortgage Calculator lets you consider numerous scenarios, showing what your payment will be in each case. You can plug in different property sale prices, homeowners insurance, and how a 15-year term compares to a 30-year, etc. Play with different situations to see how they’ll impact your payment. Try our Mortgage Calculator now
How much house can you afford?
It’s important that you end up with a monthly mortgage payment that feels comfortable. But how do you know what you can afford? Our Affordability Calculator is a great tool to help you evaluate your unique financial situation and determine what size loan will work best for you. Just plug in your annual income, assets, and any monthly payment obligations, such as car payments and student loans — and then experiment with different scenarios. Try various interest rates, down payment amounts, property taxes, and mortgage terms to see how they impact your monthly payment and loan size. Try our Affordability Calculator now
Should you rent or buy?
Are you wondering whether it’s smarter to keep renting or buy a home? Our Rent vs. Buy Calculator can give you a clearer picture of which housing situation makes the most financial sense for you. You can plug in your monthly rent and then play with different buying scenarios. Or enter varying rent and purchase costs to see how your payments change and how long it will take to break even. The calculator helps you understand what you may be able to afford and if buying makes financial sense right now and in the long run. Try our Rent vs. Buy Calculator now