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Calculate Your Costs

5 Tips to Reduce Mortgage Costs

1. Refinance: If interest rates were higher when you initially took out your mortgage, you might want to consider refinancing. Even a decrease as little as .5% can help cut costs.

2. Cut Mortgage Life: Shorter-term loans tend to have lower interest rates than long-term loans This could save a lot of money over the life of the loan - but only if you're comfortable making bigger payments each month.

3. Make Extra Payments: By paying a little extra on principal each month, you will pay off the loan sooner and reduce the term of your loan.

4. Eliminate PMI: If you put less than 20% down on your house, your lender probably required private mortgage insurance (PMI) which can cost between .5 to 1% of the entire loan.

5. Reassess Home Value: If your home value has dropped you could potentially save money on property tax.

Arnett & Devoe Mortgage Group

Casey Arnett

Vivian Devoe

1803 N. Taft Ave.

Loveland, CO 80538


A mortgage calculator is one of the most important tools a consumer can use when considering a mortgage for buying a new home or refinancing an existing loan. The mortgage calculator can help determine your monthly payment, how much you can afford or how much you should borrow. Reviewing the information on a potential loan prior to applying can save you precious time and a significant amount of money.

Our mortgage calculator is easy to use and allows you to experiment with different loan term scenarios to see what will work best for you. The bottom line is that the right mortgage has to have the right monthly payment for your particular financial situation. Feel free to use our mortgage calculator below to figure your estimated costs, payments and potential savings.

Mortgage Calculators

What is Amortization?

Amortization is the process by which loan principal decreases over the life of a loan. With each mortgage payment that is made, one portion of the payment is applied towards reducing the principal while another portion is applied towards paying the interest on the loan. An amortization schedule, a table detailing each periodic payment on a loan, shows this ratio of principal and interest and demonstrates how a loan's principal amount decreases over time. To see what type of payment plan is right for you, create your own amortization schedule with our amortization calculator here.


The financial calculators provided on are for educational purposes only and are designed to assist you in estimating the approximate costs associated with any bank activity. Your actual costs may vary.

The information provided should not be construed as tax or legal advice. Please consult with your tax advisor and/or attorney regarding your individual circumstances. All loans considered by ADMTG are subject to credit approval.

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