A mortgage calculator helps you choose a new cost saving mortgage deal.  Before you even apply for a loan, you can go thro all the financial permutations first.

Work out your monthly payments.  Put in your loan total, interest rate, and desired loan term - immediately get a monthly payment amount.

What if you want to make additional payments ?  Put in the figures and see how much more quickly you'll clear your loan.

How about your salary ?  Is it enough to cover your desired loan ?  Do you need to make more money ?  Put in your salary, and see how much you can afford to pay on a mortgage loan each month.

Also, put in your salary and get an idea of how much a lender will offer you.  Many lenders work on an income multiple when calculating how much to offer you.  Anticipate their offer in advance, by using a mortgage calculator

Maybe you want to take a mortgage refinance deal ?  Ideally, you remortgage to a better deal, but there's some upfront costs of arranging the new loan.  Calculate exactly how long it will take to recoup those remortgage costs.

There's many other uses of a mortgage calculator - here's just a few.  How much can you deduct from your taxes ?  What if you choose to pay fortnightly instead of monthly.  How about if interest rates change when you're not on a fixed rate deal ?

So make full use of a mortgage calculator to work out the best possible deal for your own personal circumstances.