How reliable are online mortgage calculators ?
Online mortgage calculators on most websites are fairly reliable as far as approximations are concerned. You cannot take the online calculator results as final. The online results should be for your private reference, on the basis of which you should talk to lenders / brokers in your area. To be safe, you should take online calculator results from three or four websites and compare them. The results should be fairly comparable. If any calculator shows results that way off the results from other calculators, it might mean that the ‘wayward’ calculator is defective.
