There’s definitely mortgage calculators out there that calculate your monthly payments based on interest rate. But I’ve had to also factor in various options with handling fees all the way from waived or fixed with higher interest, to 2.2% handling fees.
I’m assuming these fees need to be paid up front, though I heard in some cases they are just added to the loan amount.
It would be nice to simulate what you would ultimately pay / save in the end assuming you could compound interest on the saved fee. If this calculator doesn’t exist I’ll probably throw up a website somewhere.
Extra bonus that is more complicated – simulating floating rates and potential ranges of the ultimate amount paid given an interest rate change down the line of a mortgage. This is definitely harder to estimate but it would be nice to see the effects of interest rate changes.
by icyhandofcrap