Fifth Third Bank Mortgage Calculators

Fifth Third Bank mortgage calculators are intended for users to utilize in order to determine potential financing options available to them in regards to securing a mortgage for a home/property.

Rates

In order to receive the most accurate interest rate percentage, users should apply online, over the phone, or by visiting a bank location.

Calculators

How to Calculate

Determines whether refinancing a mortgage is a financially sound decision or not, by using the following variables:

-Current loan:

  • Loan amount
  • Original term length (years)
  • Years paid off
  • Balloon year (put zero if not applicable)
  • Interest rate

-New loan:

  • Term length (years)
  • Balloon year (put zero if not applicable)
  • Origination fee
  • Interest rate charge
  • Associated settlement service costs
  • Interest rate

-Property and personal information:

  • Appraisal value
  • Annual tax
  • Annual insurance
  • Savings rate
  • Federal and state tax rates

Once this information has been entered, users may click on the green ‘See Your Results’ button in order to view their results.

This calculator determines monthly mortgage payments based upon the following variables:

  • Amount of loan
  • Appraisal value
  • Term length (years)
  • Interest rate
  • Annual property tax
  • Annual property insurance

Upon entering these details, users can click on the green ‘See Your Results’ button to retrieve the comparison.

Calculates the maximum price of a home that an individual may be able to afford, based off of the following variables:

  • Down payment total
  • Monthly payment
  • Term length (years)
  • Interest rate
  • Loan-to-value ratio
  • Annual property tax
  • Annual property insurance

Upon entering this information, the user must click on the green ‘See Your Results’ button to view their results.

Used to determine loan and monthly payment amounts for two different underwriting scenarios (aggressive and conservative). The following fields must be filled out:

Total loan amount

Total loan amount

-Monthly income:

  • Income before taxes
  • Investment income before taxes
  • Rental property income
  • Other

-Monthly payments:

  • Vehicle loans
  • Student loans
  • Rental property loans
  • Other loans

-Other:

  • Alimony, child support, etc (monthly)
  • Credit card (monthly)

-Desired loan terms:

  • Interest rate
  • Term length
  • Down payment (% of total cost)

-Estimated tax details:

  • Annual property tax
  • Annual property insurance

Once this information has been entered, users may click on the green ‘See Your Results’ button in order to view their results.

This calculator determines exactly how much of an advantage making extra payments can potentially be. The following fields must be filled out:

  • Amount of loan

  • Appraisal value
  • Term length (years)
  • Annual property tax
  • Annual property insurance costs
  • Interest rate
  • Extra monthly payment amount
  • Number of months until repayment begins

Upon entering this information, the user must click on the green ‘See Your Results’ button to view their results.

Used by individuals who wish to seek a more comprehensive understanding of their options in regards to renting or buying a home. Alter the following variables:

  • Monthly amount paid for rent
  • Renter’s insurance costs (monthly)
  • Annual rent increase/decrease (%)
  • Appreciation/depreciation rate
  • Savings rate
  • Federal and state tax rates
  • Estimated years before payoff/sale
  • Amount of loan
  • Loan term (years)
  • Interest rate
  • Origination cost
  • Interest rate charge
  • Associated settlement service costs
  • Annual property tax
  • Annual maintenance costs
  • Annual property insurance
  • Selling fees (percentage of selling price)

Once this information has been entered, users may click on the green ‘See Your Results’ button in order to view their results.

In order to help individuals determine whether they should purchase points on their mortgage. Calculates the monthly mortgage payments between two loans, based upon the following variables:

  • Loan amount
  • Loan term (years)
  • Interest rate
  • Origination cost
  • Specific interest rate fees
  • Associated settlement service costs
  • Federal and state tax rates
  • Purchase cost
  • Annual tax (property)
  • Annual property insurance
  • Estimated number of years before payoff/sale
  • Savings rate

-If loans have adjustable rates:

  • Number of months before initial adjustment
  • Number of months between adjustments
  • Maximum adjustment percentage
  • Minimum rate
  • Maximum rate
  • Margin
  • Index rate
  • Change per adjustment (index rate)
  • Number of months between index adjustments

Upon entering this information, the user must click on the green ‘See Your Results’ button to view their results.

Calculates the after-tax interest rate as well as an estimation of annual tax savings in regards to a mortgage loan. This calculator requires the following fields to be filled out:

  • Amount of loan
  • Term length (years)
  • Interest rate
  • Origination fees
  • Specific interest rate costs
  • Various settlement charges/services
  • Federal and state tax rates
  • Value of appraisal
  • Annual property tax
  • Annual insurance (property)

Once these details have been entered, users can click the green ‘See Your Results’ button in order to generate their results.

 

 

 

 

 

 

 

 

 

 

 

 

 

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