Definition: The Mortgage and Tax Calculator is a financial tool used to estimate the total amount that you will pay over time for your mortgage and property taxes in one easy-to-use online application. Here's a brief overview of its key features: 1.

Estimate Total Cost

: This calculator allows you to input the down payment, closing costs, and other necessary expenses associated with buying a home. It helps you understand how much money you will need upfront. 2.

Calculate Payment Periods

: The mortgage calculator also calculates the length of the monthly payment you will pay over the course of your mortgage term. This includes all interest rates (including those on fixed-rate mortgages), any fees, and whether any additional payments are due at the end of each month. 3.

Manage Payments

: The calculator allows you to specify which payments you want to make to ensure that the principal is paid in time to avoid penalties. It also allows for automatic monthly payments or direct debit transfers to your bank account. 4.

Calculate Future Value

: This part of the calculator calculates how much money will be left after paying off the mortgage and property taxes over the life of the loan. 5.

Use Online Form

: The calculator is fully functional online, making it easy to use from anywhere with an internet connection. 6.

Keep Records

: The calculator also provides a record for you to keep, including your payment information, monthly payments, and any additional payments made during the mortgage term. 7.

Accessibility

: The calculator can be accessed on-line or by phone, providing users with quick access to their financial information. This tool is often used in conjunction with other financial calculators like the Mortgage Calculator to provide a comprehensive picture of your financial situation when purchasing a home.

mortgage and tax calculator