Consumers face a problem if they use most online mortgage calculators to see what they might owe on a new deal. The calculators often don't...

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Consumers face a problem if they use most online mortgage calculators to see what they might owe on a new deal. The calculators often don’t factor in property tax and hazard insurance, which can add a hefty chunk to the monthly payment.

So how do you get a more accurate mortgage calculation?

The “Advanced Mortgage Calculator” at www.watchyourwealth.com can be a big help.

The calculator allows the user to factor in the costs of first and second mortgages, plus taxes and hazard insurance, resulting in a more realistic idea of the bottom-line cost.

The site also features a more traditional, simple mortgage calculator, as well as an interest-only loan calculator that shows the size of payments a consumer would make — excluding taxes and insurance — by converting to an interest-only deal.