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Real Estate

Compare A 'No-Cost' Versus Traditional Mortgage

Very Good (74 Ratings)
3.878378/5

Many lenders will offer a "no-cost" loan in lieu of a traditional mortgage. "No-cost" loans are generally priced at a higher interest rate than a traditional mortgage so that the lender can pay for all your closing costs and provide them with their profit. Use this calculator to help determine if a no-cost loan with your lender may be less expensive than a traditional mortage.

Mortgage Rates and AssumptionsInput
$
(1-40)
Mortgage Rates and AssumptionsNo-Cost LoanTraditional Mortgage
(0-30)% (0-30)%
Traditional Loan Closing CostsInput
(0-5)%
(0-5)%
$
$
$
$
$
$
$
$
$
$
$
Comparison AssumptionsInput
(0-30)%
(0-50)%
(1-40)
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Reset FormSubmit
Mortgage Input And Assumptions
"No-Cost" LoanTraditional Loan
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Print PageBack to Input Form
{ "WS" : "ads1.finance.vip.sp1.yahoo.com/CalcService", "fields" : { "udata" : [ "loan_amount" , "term_years" , "tax_bracket" , "comparison_year" ], "rdata" : { "results_paragraph" : "results_paragraph" , "investment_return" : "simple" , "monthly_payment1" : "simple" , "monthly_payment2" : "simple" , "pv_loan1" : "simple" , "pv_loan2" : "simple" , "remaining_balance1" : "simple" , "remaining_balance2" : "simple" , "closing_costs" : "simple" , "total_cost1" : "simple" , "total_cost2" : "simple" , "chart" : "chart" , "years" : { "year" : [ { "name" : "@year_number", "label" : "Year" } , { "name" : "@nocost_payment", "label" : "No Cost Payment" } , { "name" : "@nocost_savings", "label" : "Tax Savings" } , { "name" : "@nocost_balance", "label" : "Loan Balance" } , { "name" : "@nocost_pv", "label" : "Today's Value of Outlay" } , { "name" : "@traditional_payment", "label" : "Traditional Payment" } , { "name" : "@traditional_savings", "label" : "Tax Savings" } , { "name" : "@traditional_balance", "label" : "Loan Balance" } , { "name" : "@traditional_pv", "label" : "Today's Balance of Outlay" } ] } } } }
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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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