These free calculators are handy tools when you want to understand the benefits of homeownership.

Online Calculator Roundup:

• Bankrate.com
• MicrosoftOffice.com
• Fannie Mae
• Home Loan Learning Center

Sometimes it's best to let numbers do the talking. An easy-to-use calculator comes in handy when you want to understand how much home you can afford, or if you'd like to compare the monthly payments of an adjustable-rate mortgage to a fixed-rate mortgage. Here, are four free calculator Web sites that make it easy to crunch numbers for real estate-related situations. Use these tools to "play with numbers"; if numbers aren't your thing, give me a call (949-654-0464) and I will help and suggest a mortgage advisor to help you thru the maze of options available. 

• Bankrate.com. This Web site, a source for rate information and consumer finance issues, has a wide collection of financial calculators for real estate. On its Mortgage page, you can answer the critical question: How Much House Can You Afford? If you are deciding if homeownership is for you, visit the Buy or Rent Your Next Home calculator - it will help you make a financially-sound decision. On this site, you also can access an Amortization Schedule Calculator, a Cost of Living Comparison Calculator, and many more.
• MicrosoftOffice.com. These calculator templates can help you determine closing costs or a remodeling budget. To download these templates, all you need is Microsoft Excel, version 2000 or later.   By searching the term "calculator" on the home page, you'll find more than 60 calculators, including a Gain on Home Sale Calculator, a Closing Costs Calculator, a Kitchen Remodel Cost Calculator, and an ARM vs. Fixed Mortgage Comparison.
• Fannie Mae. Six calculators evaluate the various components that factor into buying a home and getting a mortgage. Here you can understand how your desired monthly payment will affect the price of the house you can afford with the How Much Can You Afford With a Specific Monthly Payment? Calculator.
• Home Loan Learning Center. Run by the Mortgage Bankers Association, this Web site's five financial calculators are especially helpful for first-time homebuyers. The How Much Will My Monthly Mortgage Payment Be? calculator computes a mortgage's monthly payment amount based on the principal amount borrowed, the length of the loan, and the annual interest rate. Or, compare the impact of up to five different interest rates simultaneously with the What Difference Will the Mortgage Interest Rate Make?

One more site recommendation:

Homebuyers and sellers can visit this website for important information about today's housing market, the benefits of homeownership and quick links to useful real estate tools. 

housingmarketfacts.com