Like homes, like prospective homeowners, like mortgages themselves, Mortgage Calculators come in all shapes and sizes. All sorts of mortgage calculators exist to help those considering applying for a mortgage to determine how much and what type of mortgage they can afford.

The following is a brief overview of just some of the many types of these free and invaluable tools available online for your use and empowerment:

Additional Mortgage Payment Calculator: Shows you the long-term affect of paying a particular amount of extra principal per month to your mortgage.

Mortgage Comparison Calculator: Compares two user-determined mortgages side-by-side for easier decision making.

Bi-Weekly Payments Calculator: Show you how making bi-weekly payments to your mortgage instead of monthly payments affects your overall mortgage payout.

Mortgage Length Calculator: Shows the long-term savings you could achieve by making larger monthly mortgage payments.

Buy vs Rent Calculator: Compares paying rent against paying the same amount towards a mortgage.
 
Mortgage Payment Calculator: Estimates monthly payments and amortization schedule based on different loan amounts, interest rates, and mortgage terms.

Debt Ratio Calculator: Determines that all-important debt-to-income ratio that lenders weigh so heavily in determining whether or not to grant you a mortgage.

Mortgage Principal Calculator: Predicts the balance remaining on your principal after making a set number of monthly mortgage payments for a particular period of time.

HELOC Calculator: Shows how you can cut down your monthly expenses by using a home equity line of credit.
 
Points Calculator: Shows the affect of paying points on the size and duration of your monthly mortgage payments.

How Much Can I Afford?: Determines what annual salary you would need in order to adequately afford a home of a particular value.
 
Refinance Savings Calculator: Details your overall savings should you decide to refinance your current mortgage to one with new terms, including a lower interest rate.

Income Qualification Calculator: Similar to the “How Much Can I Afford?” Calculator, this one determines what type of monthly income you would need to afford a home of a certain value.

Second Loan vs PMI Calculator: Reveals how getting a second mortgage would affect your PMI payments.

Interest Only Calculator: Figures out how much home you can afford if you get an interest-only mortgage instead of a conventional mortgage.

Tax Benefits Calculator: Details your tax savings from purchasing a home after the first several years and for the overall life of the loan.

Mortgage APR Calculator: Determines the actual annual percentage rate you’d be paying with a mortgage having a particular, set interest rate.

Use any or all of these mortgage calculators to give yourself a clear idea of the repurcussions of your various mortgage options before you make any decision.