New Mortgage Calculator Solves Common Prequalification Puzzle

A new mortgage prequalification calculator created by mortgage information site Calculators4Mortgages.com has solved a common dilemma for home buyers. This new calculator allows users to sidestep a common trial-and-error process and get a more accurate result.

San Francisco, CA (EMWNews) August 18, 2008 — Calculators4Mortgages.com’s new online creation allows home shoppers to avoid the common calculator catch-22 of entering an estimated payment to forecast possible loan amounts. The new prequalification calculator is designed for easy use and greater accuracy. (http://www.calculators4mortgages.com/calculators/loan/loanprequal.html)

Home shoppers trying to determine their price range are often stymied by a basic requirement on many mortgage prequalification calculators to “enter monthly housing expense.” Determining the housing expense (including mortgage payment) requires knowing the mortgage loan amount. But the loan amount (and the sales price) is what the user is trying to get from the calculator in the first place. Thus begins a trial-and-error process of estimating payments, guessing loan amounts and extrapolating purchase prices.

The new proprietary calculator is available free of charge at Calculators4Mortgages.com. Registration is not required. Realtors, mortgage lenders, home sellers and other Web site owners may add this calculator to sites at no charge by following the easy online instructions. (http://www.calculators4mortgages.com/build-a-calculator.html?calcType=6)

Calculators4Mortgages.com offers free, easy-to-use online mortgage calculators for consumers to use and webmasters to incorporate into mortgage, real estate and financing Web sites. These practical, user-friendly mortgage loan calculators include amortization schedules, mortgage payment calculators, loan comparison calculators and refinance breakeven calculators.