![]() ![]() Mortgage Loan Calculator Use this calculator to determine your monthly payment and amortization schedule. Mortgage Debt Consolidation This calculator is designed to help determine whether using a mortgage to consolidate your debt is right for you. 30 Years Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you. Mortgage APR Calculator Use this calculator to find the APR on your mortgage. Maximum Mortgage Use this calculator to determine your maximum mortgage and how different interest rates affect your how much you can borrow. Interest Only Mortgage Calculator Use this calculator to generate an amortization schedule for an interest only mortgage. ![]() Interest Only ARM Calculator Interest only mortgages can provide you with very low monthly payments, however you are not paying off any principal during the interest only period. LIBOR ARM Use this calculator to compare a fixed rate mortgage to a LIBOR ARM. Interest Only Mortgage Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage. FHA Maximum Financing Calculator Use this calculator to determine your maximum FHA mortgage and cash needed for closing. ![]() Blended Rate Mortgage Calculator This calculator helps you determine the effective, or blended, interest rate you would pay if you use a first and a second mortgage to finance the purchase of a home. Bi-weekly Payments for an Existing Mortgage This calculator shows you the possible savings by starting to pay your current mortgage with bi-weekly payments, instead of monthly payments. Use this calculator to compare a typical monthly payment schedule to an accelerated bi-weekly payment. ![]() Bi-weekly Payment Calculator Using bi-weekly payments can accelerate your mortgage payoff and save you thousands in interest. Balloon Mortgages A balloon mortgage can be an excellent option for many home buyers, use this calculator to see if a balloon mortgage might fit your needs. Fixed Rate Mortgage Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. APR Calculator for Adjustable Rate Mortgages Use this calculator to find the APR on your adjustable rate mortgage. Rates are as at April 17, 2023, for Equitable Bank's Flex Reverse Mortgage, HomeEquity Bank's CHIP Reverse Mortgage, and Bloom Finance Company Ltd.’s Bloom Reverse Mortgage.Adjustable Rate Mortgage Calculator This calculator helps you to determine what your adjustable mortgage payments will be. When comparing a $400,000 advanced principal Equitable Bank Flex Reverse Mortgage with Bloom Finance Company Ltd.’s Bloom Reverse Mortgage, over two 5-year fixed terms at posted rates, a borrower will save $3,785 after 5 years, $10,727 over 10 years, and $22,812 over 15 years. When comparing a $400,000 advanced principal Equitable Bank Flex Reverse Mortgage with HomeEquity Bank’s CHIP Reverse Mortgage, over two 5-year fixed terms at posted rates, a borrower will save $4,056 after 5 years, $11,498 over 10 years, and $24,459 over 15 years. Term Deposits and Guaranteed Investment Certificates (GICs)įootnotes Based on research conducted by Equitable Bank on īased on research conducted by Equitable Bank on May 25, 2023, comparing the posted rates of Equitable Bank’s Flex Lite and Flex Reverse Mortgages with comparable products, including Bloom Finance Company Ltd.’s Bloom Reverse Mortgage, and the CHIP Reverse Mortgage offered by HomeEquity Bank at origination. ![]()
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