Making Math Easier for Borrowers with Mortgage Calculators!

Mortgage Marketing Calculators

A mortgage calculator is an excellent starting point on a borrower’s journey to achieving their financial goals. Whether helping potential borrowers estimate their monthly payments or creating scenarios for refinancing their homes, these interactive tools offer value to both borrowers and lenders looking to increase the volume of qualified leads in their mortgage pipeline.

This Article Covers:

  • How mortgage calculators engage and convert leads into prospects
  • The different types of mortgage calculators
  • How to optimize mortgage calculators with a dedicated mortgage CRM

How do mortgage calculators work?

Mortgage calculators are a fantastic tool for borrowers to determine all of the costs involved in purchasing a mortgage. Homebuyers use mortgage calculators to quantify the monthly payments for a particular loan amount, the purchase price, the budget they will have to keep to afford their dream home, and more.  

Whether or not a borrower is mathematically inclined, most prefer to leave the mortgage math to a calculator for accuracy and efficiency.

What makes a great mortgage calculator?

A great mortgage calculator collects the right amount of information for the mortgage lender without overwhelming the borrower. However, this can create challenges for lenders who use these mortgage calculators as a part of their lead generation strategy.  

If the information entered by the borrower is not thorough, the calculator will give an inaccurate answer. Misinformation can cause frustration for the borrower, who may feel like they are a victim of a “bait and switch,” potentially souring the borrower’s relationship before it ever really began.  

The best mortgage calculators use “microtransactions,” spacing out the questions in phases to make the calculator feel less daunting.  

Another factor for lenders to consider is how the calculator they use feeds into their marketing automation. If all the calculator does is provide the answer to the borrower without any follow-up communication or calls to action, the lender is not guaranteed to win the business.

Lenders can fix this issue by adding a clickable link where the prospective borrower enrolls themself into the lender’s mortgage CRM. Once in the system, the lender can communicate with the potential borrower and guide them through the loan application process. 

What types of mortgage calculators should lenders use for digital marketing?

Mortgage calculators are not a one-size-fits-all-tool. There are many unique calculators that can educate borrowers and increase the volume of digital leads

mortgage calculators created by Top of Mind Networks for Surefire Users.

Mortgage Payment Calculator:

A mortgage payment calculator is a tried-and-true solution for any borrower looking at financing options for their home purchase. A mortgage payment calculator creates an amortization schedule based on the loan amount, interest rate, down payment and loan term (typically calculated in years). This calculator provides the lender with a breakdown of their monthly mortgage payment showing interest and principal reduction.  

Suppose the down payment is below the standard 20%. In that case, this calculator showcases a factor known as private mortgage insurance (PMI) , which will be an added cost for the borrower until they reach a certain percentage of loan to value (LTV).

As a bonus, a loan officer can use a detailed breakdown of the loan balance year over year to generate an amortization schedule. This amortization schedule also shows when the borrower will no longer be required to pay PMI.  

Mortgage Affordability Calculator

A mortgage affordability calculator focuses on the borrower and their monthly incomes vs. expenses. Using the information from this calculator, borrowers evaluate how much mortgage they can realistically afford. 

With the information from the affordability calculator, lenders can change their communication strategy to educate their borrowers on achieving their financial goals.  

Mortgage Pre-Approval Calculator

A mortgage pre-approval calculator assess a borrower’s creditworthiness to estimate how much financing they can qualify for.  The borrower’s annual income and the mortgage’s term and interest rate is compared to their credit score, employment status, and other factors that determine the range for the total loan amount.

Rent vs. Buy Calculator

The rent vs. buy calculator shows that the grass may be greener as a homeowner instead of a renter. This calculator  compares the borrower’s financial situations of both renting and buying a home.  

These calculators showcase the appreciation of a home that the potential borrower will not experience as a renter for added value. Lenders can use the information gained from this calculator to educate potential borrowers about the benefits of homeownership. 

Mortgage Refinance Calculator

These calculators answer the question, “How much money can a borrower save per month by refinancing?” The borrower compares their current mortgage payment to what they could be paying with a new term, interest rate, APR, and more.

Loan Comparison Calculator

Short term or long term? Fixed rate or variable rate? Loan comparison calculators help borrowers determine the loan that is right for their situation.

When comparing loans, there are a multitude of factors to be considered.  This calculator goes further than the interest rate and loan term.  Origination fees, commitment fees, balloon payments and the annual percentage rate (APR) are all factors that loan comparison calculators take into consideration.  

Mortgage Payoff Calculator

A mortgage payoff calculator is a great tool that helps borrowers understand the interest they can save by increasing their mortgage payments. This mortgage amortization calculator clarifies the borrower’s situation using information on  the original mortgage term, years remaining, current payments, and the current principal of the loan.   

Mortgage marketing professionals who integrate their mortgage payoff calculator with their mortgage CRM often use a mortgage payoff calculator to educate their customers on different programs available, including a mortgage refinance.  

How can I add mortgage calculators into my digital marketing plan?

The mistake many mortgage marketing professionals make when implementing mortgage calculators is that they add them to their website’s main page and then forget that they exist.  

Mortgage calculators are an excellent method to gather information on prospective borrowers and trigger automated workflows. Many successful mortgage marketing professionals use these interactive tools in their emails, landing pages and social media channels to ensure that their contacts see the value in engaging with the lender’s marketing content. 

Should I use a free mortgage calculator on my website?

There are many free mortgage calculator options available to lenders.  Through a simple code, anyone can add this functionality to their website in a few easy steps.  However, a free mortgage calculator comes with its own set of pros and cons compared to other options available.  


  • They’re free for you and your borrowers
  • They are formatted to make them easy to install on your website
  • Borrowers can refer other prospective homebuyers to the calculator’s page, garnering more traffic  


  • These calculators are created and supported by a third party making it hard to ensure quality
  • Hard to differentiate from other lenders with free mortgage calculators
  • Could have a virus built into the JavaScript
  • Your branding is not reflected in the colors/logos on the calculator and they might link out of your site
  • Free options are limited; borrowers are looking for more loan options

Final Thoughts

Like any tool used in a digital marketing strategy, mortgage marketing professionals need to approach the implementation of mortgage calculators with a clear understanding of how the information these tools collect can automate the mortgage process.  

This is why Surefire CRM is the preferred marketing solution for mortgage lenders and mortgage loan officers. With our ever-expanding library of mortgage calculators and other interactive tools, mortgage marketing professionals can quickly implement an optimized digital experience for their borrowers. Surefire’s marketing tools give mortgage lenders and mortgage loan officers the power to win new business, earn repeat business and gain referral business with award-winning content and groundbreaking workflows.


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