Calculators

Calculators provide a quick and easy way to evaluate financing options to best meet your customer's needs! Email the results in a professional format to your customers directly from the calculator.

  • Mortgage Payment Calculator - Calculates a proposed monthly payment (P&I or PITI), based on specific loan parameters entered. When this calculator is accessed at the loan level (Actions menu in Loan Manager, LoanApp, ezApps), you will have the opportunity to update specific data fields within the LoanApp, right from the calculator results window!
    Tip: To calculate a proposed P&I payment only, optional monthly escrow item fields must display 0 (zero).
  • Mortgage Comparison Calculator - This calculator can compare up to three mortgage scenarios, including borrower qualification ratios. Calculator inputs can include subordinate financing, interest-only payments, ARM rate projections, occupancy type, housing and consumer expenses and more. There are two versions of the calculator: lead or loan-specific and stand-alone.
  • Mortgage Qualification Calculator - Calculate required down payment percentage (%), loan component maximum values and monthly housing payment scenarios based on income and prospective property information entered.
  • Refinance Calculator - Calculates a proposed refinance scenario (P&I payment only, escrow/impounds are not reflected) including a cost savings detail and estimated break even point.
  • Debt Consolidation Calculator - Calculate potential monthly payment savings by consolidating consumer debt with one loan.
  • Payment Option ARM Calculator - Calculates a proposed Option ARM payment menu (escrow/impounds are not reflected).
    Note: An Option ARM is an adjustable rate loan providing a flexible monthly payment schedule, which may result in negative amortization of the loan. Negative amortization occurs when the payment amount selected by the borrower is less than the amount required to fully amortize the loan. The difference between what is needed to fully amortize the loan and what was actually remitted is added to the outstanding loan balance; therefore, negatively amortizing the loan.
  • MGIC Mortgage Options Calculator - enables you to compare up to four high-LTV loan options side-by-side.

Other MGIC Calculators