How to Use an All In One Loan Calculator to Explore Your Best Mortgage Option

Getting a mortgage is one of the biggest financial decisions you can make. With so many loan types and options to choose from, it can be overwhelming trying to determine the best fit for your needs. This is where using an all in one loan calculator can provide tremendous value.

In this article, we’ll look at what makes the all in one loan unique how its calculator works and how modeling different scenarios can help you identify the most favorable mortgage structure. Whether you want to pay off your home faster, access more liquidity, or simply save on interest, read on to see how this tool can help!

What Is an All In One Loan and How Is It Different?

An all in one loan combines a mortgage and home equity line of credit (HELOC) into a single lending product. This gives it some key advantages over regular mortgages:

• Lower interest costs – Only charged interest on the amount you actually owe not the full loan amount.

• Pay down principal faster – Apply deposits to immediately lower your principal.

• Access home equity – Built-in HELOC provides liquidity and flexibility.

• Works like a checking account – Make payments and transfers from the loan.

Having your mortgage and finances consolidated into one account provides opportunities for savings and convenience that separate loans don’t allow.

Benefits of Using an All In One Loan Calculator

With unique dynamics like these, modeling out your exact costs and terms requires a specialized all in one loan calculator. Here are some key benefits this tool provides:

• Custom scenarios – Input your specific details to see personalized figures.

• Payment projections – Review potential monthly payment amounts.

• Total interest savings – See how much interest you can potentially save over the life of the loan.

• Payoff comparisons – Compare how many fewer years to pay off principal.

• What-if analysis – Easily adjust variables to model different options.

• Shareable results – Email yourself scenarios to review later.

Having all this mortgage modeling capability in one place makes it easy to quantify the potential advantages of an all in one loan for your situation.

How an All In One Loan Calculator Works

These calculators take your inputs and financial data and use them to estimate:

• Monthly payments
• Total interest paid
• Years until payoff
• Lifetime savings

It runs these figures on both a standard mortgage and the all in one loan for an apples-to-apples comparison. This makes it easy to see how big of an impact consolidating into an all in one loan could have over the life of your mortgage.

Walkthrough of Using an All In One Loan Calculator

To give you a hands-on look at how these tools work, let’s walk through a hypothetical scenario:

Say you currently have a $200,000 mortgage at 4% interest, along with $40,000 in other debt like credit cards or student loans at 8% interest. You also typically have around $10,000 in your checking account earning little interest.

Here are the steps you might take to model your options with an all in one loan calculator:

1. Enter your current mortgage balance, rate, and terms.

2. Input your other debt amounts and rates.

3. Estimate your average checking account balance.

4. Review the total interest paid over time for each.

5. See the monthly payments for each option.

6. Check the lifetime savings from consolidating into an all in one loan.

7. Adjust variables like debt amounts, rates, etc. to model scenarios.

8. Email yourself the results for further review.

Running through exercises like this makes the potential money-saving benefits of an all in one loan much clearer tailored to your exact financial situation.

Key Factors to Model in an All In One Loan Calculator

As you use these calculators to explore mortgage scenarios, here are some of the key variables to adjust to understand their impact:

• Current mortgage balance
• Interest rate
• Loan term
• Payoff time frame
• Other debt amounts
• Checking account balances
• Credit profile factors

Seeing how these inputs change your estimated payments, interest costs, and payoff timing can illustrate how beneficial consolidating into an all in one loan could be.

Finding the Right All In One Loan Calculator

Now that you see how an all in one loan calculator can demystify this financing option, you probably want to try modeling some scenarios yourself. Here are a few tips on picking the right tool:

• Provides detailed side-by-side comparisons to standard loans.
• Allows input of your full financial picture, including other debts.
• Offers customized scenarios you can save and share.
• Includes helpful explanations and visuals about the all in one loan.
• Is mobile-friendly for use on all devices.
• Comes from a reputable all in one loan provider like CMG Financial.

The All In One Loan Calculator from CMG checks all those boxes, making it easy to quantify potential savings from this innovative lending option.

Take Control of Your Mortgage with Informed Modeling

Buying a home is emotional, but make sure you crunch the numbers too. An all in one loan calculator gives you the power to explore your mortgage objectively and quantitatively. This allows you to find potential cost savings and efficiency gains that work for your financial situation.

So rather than just going with the first mortgage you’re offered, take the time to model different scenarios with a specialized all in one loan calculator. Having personalized simulations at your fingertips makes it easy to feel confident you’ve found the optimal home financing solution.