Mortgage Calculator: Simple calculator for repayment & interest only mortgages, mortgage payment calc.#Mortgage #payment #calc


Ultimate Mortgage Calculator New!

8 calculators to compare mortgages, from ditching your fix to saving for a deposit

Mortgage payment calc

Basic mortgage calculator

Shows the cost per month and the total cost over the life of the mortgage, including fees interest.

Total you’ll repay over full term

Could you get a cheaper rate?

Use the MSE’s Mortgage Best Buys Comparison to find the best deal for you.

Your mortgage debt over time

Your remaining debt

(assuming your interest rate stays the same)

The nerdy bit see how the debt is gradually paid off

In the first few years of the mortgage, you’re paying proportionally more interest, so the debt only reduces slowly, as the table above shows. However, making overpayments can eat into the debt and massively reduce the amount you repay in total as it means less interest overall (always check there aren’t overpayment penalties beforehand).

IMPORTANT! Please read.

This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs.

It’s important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors (please report faults above).

Assumptions

In order to create these results, we have had to make a few assumptions:

  • 1) Interest is charged monthly.
  • 2) Interest rate stays the same over the term.
  • 3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.

Martin’s FREE Printed Mortgage Help Booklets

How this site works

We think it’s important you understand the strengths and limitations of the site. We’re a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can’t guarantee to be perfect, so do note you use the information at your own risk and we can’t accept liability if things go wrong.

  • This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.
  • Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first.
  • We don’t as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it’s rarely made public until it’s too late (see the Section 75 guide for protection tips).
  • We often link to other websites, but we can’t be responsible for their content.
  • Always remember anyone can post on the MSE forums, so it can be very different from our opinion.

MoneySavingExpert.com is part of the MoneySupermarket Group, but is entirely editorially independent. Its stance of putting consumers first is protected and enshrined in the legally-binding MSE Editorial Code.

More tools from MoneySavingExpert

Budget Planner

Free tool to analyse your finances and scrutinise spending.

Premium Bonds Calc

Unique tool uses probability to estimate winnings.

EBay Local Deals Mapper

Find cheap pick-up only items near you – they often attract fewer bids.

Credit Club

Turbo boost your credit chances and get your free Experian credit report.

Credit Card Eligibility Calc

Shows which top cards you’re most likely to get.

MegaShopBot.com

Instantly searches the best shopping comparison sites.

Cheap Energy Club

Ensures the cheapest energy deal constantly.


Mortgage Payment Calculator –, mortgage payment calc.#Mortgage #payment #calc


Mortgage Payment Calculator

Use our mortgage loan calculator to determine the monthly payments for any fixed-rate loan. Just enter the amount and terms, and our mortgage calculator does the rest. Click on “Show Amortization” Table to see how much interest you’ll pay each month and over the lifetime of the loan. The mortgage loan calculator will also show how extra payments can accelerate your payoff and save thousands in interest charges.

Amortization Table

Mortgage payment calc

Mortgage payment calc

Mortgage payment calc

Mortgage payment calc

Whether you’re buying a new home or refinancing, our mortgage calculator can do the math for you. Simply enter the amount, term and interest rate to get your monthly payment amount. If you’re refinancing, enter the current balance on your mortgage into the loan amount section and input the new term and new rate that you’ll receive. Then click on the amortization table to see how much interest you’ll pay over the life of the loan. Add extra payments to find out how they can put your payoff schedule on the fast-track and save you thousands.

Keep in mind that this calculator only calculates the mortgage payment. It does not include taxes, insurance or other fees included in the purchase of your home.

Loan amount: The amount of money you’re borrowing. It’s the cost of your new home minus the down payment if you’re buying or the balance on your existing mortgage if refinancing.

Interest rate: The exact rate you will receive on your loan, not the APR.

Loan term: The length of time you have to pay off your loan (30- and 15-year fixed-rate loans are common terms).

Amortization table: Timetable detailing each monthly payment of a mortgage. Details include the payment, principal paid, interest paid, total interest paid and current balance for each payment period.

Monthly extra payment: Extra amount added to each monthly payment to reduce loan length and interest paid.

Yearly extra payment: Extra amount paid each year to reduce loan length and interest paid.

One-time extra payment: Extra amount added once to reduce loan length and interest paid.

Mortgage payment calc


Mortgage Payment Calculator, mortgage calc.#Mortgage #calc


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Mortgage calc

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Mortgage calc

    To use this calculator change the above fields as desired:
  • Mortgage Amount: Enter your mortgage amountthis is the Principal Loan Balance
  • Interest Rate (%): Enter the annual interest rate

CANADIANS:Add a C (e.g. 7.75C) to use a conversion factor to convert Canadian rates to a US equivalent to use in the calculations.

  • Amortization Length: Years, typically 30 or 15 in US, 25 in Canada
  • Starting Month Year: Select the starting month and enter the year
  • Show full amortization table? No or Yes (This is a long table)
  • Pre-payment method options:

    None : No Prepayments

    Monthly : Pre-pay a set amount each month

    Annually : Pre-pay a set amount once each year

    Bi-weekly A: 26 half paymts/yr – 2 half pre-paymts each 6 months

    Bi-weekly B: 26 half paymts/yr – 1 full pre-paymt each 12 months

    One Time : Pre-pay one set amount after a given # of months

  • Prepayment Amount: Monthly/Annually/One-Time Principal Prepayment Amount
  • Prepayment after month: One-Time Prepayment to be paid after payment number of months
  • Display Using: HTML 3.0 Tables or Plain Text
  • Click here to compare offers from four different lenders.

    Mortgage calc

    Mortgage calc


    Mortgage Calculator with Current Rates – Calculate Mortgage Payments with Ease from, mortgage calc.#Mortgage #calc


    Mortgage Calculator

    Calculate your monthly mortgage payment using the free calculator below. A house is the largest purchase most of us will ever make so it’s important to calculate what your mortgage payment will be and how much you can afford. Estimate your monthly payments and see the effect of adding extra payments.

    Choose a lender below and lock in your estimated payment of $ or less

    Advertising Disclosure

    Bankrate Recommends

    Mortgage calc

    Where will mortgage rates head next week?

    Mortgage experts predict what will happen to rates over the next week — and why.

    Mortgage calc

    How much house can I afford?

    Use this calculator to determine how much mortgage you can afford to take out based on your income and expenses.

    Mortgage calc

    Mortgage Basics

    This step-by-step guide will help you understand the sometimes-difficult journey to homeownership.

    Mortgage calc

    Top 10 mortgage tips for 2016

    Thinking about buying a house? These tips will help you find the best mortgage for you.

    Helpful Calculators & Tools

    Loan Calculator

    This loan calculator will help you determine the loan monthly payments on a loan. View Calculator

    Amortization Calculator

    How much of your monthly payment will go towards the principal and how much will go towards the interest. View Calculator

    15 or 30 year mortgage?

    Lets us help you decide which mortgage loan is right for you. View Calculator

    Debt ratio Calculator

    Your debt-to-income ratio can be a valuable number — some say as important as your credit score. View Calculator

    About our Mortgage Rate Tables

    About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders’ terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser’s own website or a phone number for the Advertiser.

    Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

    Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertiser’s phone number when you click-through to their website. In addition, credit unions may require membership.

    Loans Above $424,100 May Have Different Loan Terms: If you are seeking a loan for more than $424,100, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

    Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

    Consumer Satisfaction: If you have used Bankrate.com and have not received the advertised loan terms or otherwise been dissatisfied with your experience with any Advertiser, we want to hear from you. Please click here to provide your comments to Bankrate Quality Control.

    Mortgage Calculator Help

    Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you’ll pay over the life of your mortgage. To use this calculator, you’ll need the following information:

    The dollar amount you expect to pay for a home.

    The down payment is money you give to the home’s seller. At least 20% down typically lets you avoid mortgage insurance.

    If you’re getting a mortgage to buy a new home, you can find this number by subtracting your down payment from the home’s price. If you’re refinancing, this number will be the outstanding balance on your mortgage.

    Mortgage Term (Years)

    This is the length of the mortgage you’re considering. For example, if you’re buying new, you may choose a mortgage loan that lasts 30 years. On the other hand, a homeowner who is refinancing may opt of a loan that lasts 15 years.

    Estimate the interest rate on a new mortgage by checking Bankrate’s mortgage rate tables for your area. Once you have a projected rate (your real-life rate may be different depending on your overall credit picture) you can plug it into the calculator.

    Mortgage Start Date

    Select the month, day and year when your mortgage payments will start.

    Mortgage Calculator: Alternative Use

    Most people use a mortgage calculator to estimate the payment on a new mortgage, but it can be used for other purposes, too. Here are some other uses:

    1. Planning to pay off your mortgage early.

    Use the “Extra payments” functionality of Bankrate’s mortgage calculator to find out how you can shorten your term and net big savings by paying extra money toward your loan’s principal each month, every year or even just one time.

    To calculate the savings, click “Show Amortization Schedule” and enter a hypothetical amount into one of the payment categories (monthly, yearly or one-time) and then click “Apply Extra Payments” to see how much interest you’ll end up paying and your new payoff date.

    2. Decide if an ARM is worth the risk.

    The lower initial interest rate of an adjustable-rate mortgage, or ARM, can be tempting. But while an ARM may be appropriate for some borrowers, others may find that the lower initial interest rate won’t cut their monthly payments as much as they think.

    To get an idea of how much you’ll really save initially, try entering the ARM interest rate into the mortgage calculator, leaving the term as 30 years. Then, compare those payments to the payments you get when you enter the rate for a conventional 30-year fixed mortgage. Doing so may confirm your initial hopes about the benefits of an ARM — or give you a reality check about whether the potential plusses of an ARM really outweigh the risks.

    3. Find out when to get rid of private mortgage insurance.

    You can use the mortgage calculator to determine when you’ll have 20 percent equity in your home. This percentage is the magic number for requesting that a lender wave private mortgage insurance requirement.

    Simply enter in the original amount of your mortgage and the date you closed, and click “Show Amortization Schedule.” Then, multiply your original mortgage amount by 0.8 and match the result to the closest number on the far-right column of the amortization table to find out when you’ll reach 20 percent equity.


    Financial Calculator, Free Online Calculators from, loan calc.#Loan #calc


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    Loan Payment Formula and Calculator, loan calc.#Loan #calc


    Loan Payment

    Loan calc

    The loan payment formula is used to calculate the payments on a loan. The formula used to calculate loan payments is exactly the same as the formula used to calculate payments on an ordinary annuity. A loan, by definition, is an annuity, in that it consists of a series of future periodic payments.

    The PV, or present value, portion of the loan payment formula uses the original loan amount. The original loan amount is essentially the present value of the future payments on the loan, much like the present value of an annuity.

    It is important to keep the rate per period and number of periods consistent with one another in the formula. If the loan payments are made monthly, then the rate per period needs to be adjusted to the monthly rate and the number of periods would be the number of months on the loan. If payments are quarterly, the terms of the loan payment formula would be adjusted accordingly.

    Standard Loan Payment

    The loan payment formula shown is used for a standard loan amortized for a specific period of time with a fixed rate. Examples of specialized loans that do not apply to this formula include graduated payment, negatively amortized, interest only, option, and balloon loans.

    An adjustable rate loan will use the formula shown but will need to be recalculated based on the remaining balance and remaining term for each new rate change.

    Use of Loan Payment Formula

    The loan payment formula can be used to calculate any type of conventional loan including mortgage, consumer, and business loans. The formula does not differ based on what the money is spent on, but only when the terms of repayment deviate from a standard fixed amortization.

    Simple interest and amortized loans will generally have the same payment. The terms amortized and simple interest relate to how much of the payment is applied to principal and how much is applied to interest for each payment.

    Simple interest loans rely on the date of payment to determine the amount of interest paid with the remaining amount going to principal. If a payment is made early, the interest portion of the payment will be less than if paid later. Less interest accrues when the amount is paid early because the loan balance will be less due to the extra principal payments.

    On the other hand, an amortized loan has a predetermined amount of interest paid per payment so an earlier payment has no affect on lowering the principal balance sooner. Different companies and their loans will have different policies on how they are amortized. An example of how a company may amortize their loan, is by re-amortizing every year so that extra principal payments to the loan will only go in effect after a year to lower the monthly interest portions of the payment.

    Alternative Loan Payment Formula

    Loan calc

    The payment on a loan can also be calculated by dividing the original loan amount (PV) by the present value interest factor of an annuity based on the term and interest rate of the loan. This formula is conceptually the same with only the PVIFA replacing the variables in the formula that PVIFA is comprised of.


    Mortgage Calculator with Current Rates – Calculate Mortgage Payments with Ease from, loan calc.#Loan #calc


    Mortgage Calculator

    Calculate your monthly mortgage payment using the free calculator below. A house is the largest purchase most of us will ever make so it’s important to calculate what your mortgage payment will be and how much you can afford. Estimate your monthly payments and see the effect of adding extra payments.

    Choose a lender below and lock in your estimated payment of $ or less

    Advertising Disclosure

    Bankrate Recommends

    Loan calc

    Where will mortgage rates head next week?

    Mortgage experts predict what will happen to rates over the next week — and why.

    Loan calc

    How much house can I afford?

    Use this calculator to determine how much mortgage you can afford to take out based on your income and expenses.

    Loan calc

    Mortgage Basics

    This step-by-step guide will help you understand the sometimes-difficult journey to homeownership.

    Loan calc

    Top 10 mortgage tips for 2016

    Thinking about buying a house? These tips will help you find the best mortgage for you.

    Helpful Calculators & Tools

    Loan Calculator

    This loan calculator will help you determine the loan monthly payments on a loan. View Calculator

    Amortization Calculator

    How much of your monthly payment will go towards the principal and how much will go towards the interest. View Calculator

    15 or 30 year mortgage?

    Lets us help you decide which mortgage loan is right for you. View Calculator

    Debt ratio Calculator

    Your debt-to-income ratio can be a valuable number — some say as important as your credit score. View Calculator

    About our Mortgage Rate Tables

    About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders’ terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser’s own website or a phone number for the Advertiser.

    Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

    Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertiser’s phone number when you click-through to their website. In addition, credit unions may require membership.

    Loans Above $424,100 May Have Different Loan Terms: If you are seeking a loan for more than $424,100, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

    Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

    Consumer Satisfaction: If you have used Bankrate.com and have not received the advertised loan terms or otherwise been dissatisfied with your experience with any Advertiser, we want to hear from you. Please click here to provide your comments to Bankrate Quality Control.

    Mortgage Calculator Help

    Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you’ll pay over the life of your mortgage. To use this calculator, you’ll need the following information:

    The dollar amount you expect to pay for a home.

    The down payment is money you give to the home’s seller. At least 20% down typically lets you avoid mortgage insurance.

    If you’re getting a mortgage to buy a new home, you can find this number by subtracting your down payment from the home’s price. If you’re refinancing, this number will be the outstanding balance on your mortgage.

    Mortgage Term (Years)

    This is the length of the mortgage you’re considering. For example, if you’re buying new, you may choose a mortgage loan that lasts 30 years. On the other hand, a homeowner who is refinancing may opt of a loan that lasts 15 years.

    Estimate the interest rate on a new mortgage by checking Bankrate’s mortgage rate tables for your area. Once you have a projected rate (your real-life rate may be different depending on your overall credit picture) you can plug it into the calculator.

    Mortgage Start Date

    Select the month, day and year when your mortgage payments will start.

    Mortgage Calculator: Alternative Use

    Most people use a mortgage calculator to estimate the payment on a new mortgage, but it can be used for other purposes, too. Here are some other uses:

    1. Planning to pay off your mortgage early.

    Use the “Extra payments” functionality of Bankrate’s mortgage calculator to find out how you can shorten your term and net big savings by paying extra money toward your loan’s principal each month, every year or even just one time.

    To calculate the savings, click “Show Amortization Schedule” and enter a hypothetical amount into one of the payment categories (monthly, yearly or one-time) and then click “Apply Extra Payments” to see how much interest you’ll end up paying and your new payoff date.

    2. Decide if an ARM is worth the risk.

    The lower initial interest rate of an adjustable-rate mortgage, or ARM, can be tempting. But while an ARM may be appropriate for some borrowers, others may find that the lower initial interest rate won’t cut their monthly payments as much as they think.

    To get an idea of how much you’ll really save initially, try entering the ARM interest rate into the mortgage calculator, leaving the term as 30 years. Then, compare those payments to the payments you get when you enter the rate for a conventional 30-year fixed mortgage. Doing so may confirm your initial hopes about the benefits of an ARM — or give you a reality check about whether the potential plusses of an ARM really outweigh the risks.

    3. Find out when to get rid of private mortgage insurance.

    You can use the mortgage calculator to determine when you’ll have 20 percent equity in your home. This percentage is the magic number for requesting that a lender wave private mortgage insurance requirement.

    Simply enter in the original amount of your mortgage and the date you closed, and click “Show Amortization Schedule.” Then, multiply your original mortgage amount by 0.8 and match the result to the closest number on the far-right column of the amortization table to find out when you’ll reach 20 percent equity.


    Mortgage Calculator: Simple calculator for repayment & interest only mortgages, mortgage loan calc.#Mortgage #loan #calc


    Ultimate Mortgage Calculator New!

    8 calculators to compare mortgages, from ditching your fix to saving for a deposit

    Mortgage loan calc

    Basic mortgage calculator

    Shows the cost per month and the total cost over the life of the mortgage, including fees interest.

    Total you’ll repay over full term

    Could you get a cheaper rate?

    Use the MSE’s Mortgage Best Buys Comparison to find the best deal for you.

    Your mortgage debt over time

    Your remaining debt

    (assuming your interest rate stays the same)

    The nerdy bit see how the debt is gradually paid off

    In the first few years of the mortgage, you’re paying proportionally more interest, so the debt only reduces slowly, as the table above shows. However, making overpayments can eat into the debt and massively reduce the amount you repay in total as it means less interest overall (always check there aren’t overpayment penalties beforehand).

    IMPORTANT! Please read.

    This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs.

    It’s important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors (please report faults above).

    Assumptions

    In order to create these results, we have had to make a few assumptions:

    • 1) Interest is charged monthly.
    • 2) Interest rate stays the same over the term.
    • 3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.

    Martin’s FREE Printed Mortgage Help Booklets

    How this site works

    We think it’s important you understand the strengths and limitations of the site. We’re a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can’t guarantee to be perfect, so do note you use the information at your own risk and we can’t accept liability if things go wrong.

    • This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.
    • Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first.
    • We don’t as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it’s rarely made public until it’s too late (see the Section 75 guide for protection tips).
    • We often link to other websites, but we can’t be responsible for their content.
    • Always remember anyone can post on the MSE forums, so it can be very different from our opinion.

    MoneySavingExpert.com is part of the MoneySupermarket Group, but is entirely editorially independent. Its stance of putting consumers first is protected and enshrined in the legally-binding MSE Editorial Code.

    More tools from MoneySavingExpert

    Budget Planner

    Free tool to analyse your finances and scrutinise spending.

    Premium Bonds Calc

    Unique tool uses probability to estimate winnings.

    EBay Local Deals Mapper

    Find cheap pick-up only items near you – they often attract fewer bids.

    Credit Club

    Turbo boost your credit chances and get your free Experian credit report.

    Credit Card Eligibility Calc

    Shows which top cards you’re most likely to get.

    MegaShopBot.com

    Instantly searches the best shopping comparison sites.

    Cheap Energy Club

    Ensures the cheapest energy deal constantly.


    Mortgage Payment Calculator –, mortgage loan calc.#Mortgage #loan #calc


    Mortgage Payment Calculator

    Use our mortgage loan calculator to determine the monthly payments for any fixed-rate loan. Just enter the amount and terms, and our mortgage calculator does the rest. Click on “Show Amortization” Table to see how much interest you’ll pay each month and over the lifetime of the loan. The mortgage loan calculator will also show how extra payments can accelerate your payoff and save thousands in interest charges.

    Amortization Table

    Mortgage loan calc

    Mortgage loan calc

    Mortgage loan calc

    Mortgage loan calc

    Whether you’re buying a new home or refinancing, our mortgage calculator can do the math for you. Simply enter the amount, term and interest rate to get your monthly payment amount. If you’re refinancing, enter the current balance on your mortgage into the loan amount section and input the new term and new rate that you’ll receive. Then click on the amortization table to see how much interest you’ll pay over the life of the loan. Add extra payments to find out how they can put your payoff schedule on the fast-track and save you thousands.

    Keep in mind that this calculator only calculates the mortgage payment. It does not include taxes, insurance or other fees included in the purchase of your home.

    Loan amount: The amount of money you’re borrowing. It’s the cost of your new home minus the down payment if you’re buying or the balance on your existing mortgage if refinancing.

    Interest rate: The exact rate you will receive on your loan, not the APR.

    Loan term: The length of time you have to pay off your loan (30- and 15-year fixed-rate loans are common terms).

    Amortization table: Timetable detailing each monthly payment of a mortgage. Details include the payment, principal paid, interest paid, total interest paid and current balance for each payment period.

    Monthly extra payment: Extra amount added to each monthly payment to reduce loan length and interest paid.

    Yearly extra payment: Extra amount paid each year to reduce loan length and interest paid.

    One-time extra payment: Extra amount added once to reduce loan length and interest paid.

    Mortgage loan calc


    Mortgage Payment Calculator, mortgage payment calc.#Mortgage #payment #calc


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    Mortgage payment calc

      To use this calculator change the above fields as desired:
    • Mortgage Amount: Enter your mortgage amountthis is the Principal Loan Balance
    • Interest Rate (%): Enter the annual interest rate

    CANADIANS:Add a C (e.g. 7.75C) to use a conversion factor to convert Canadian rates to a US equivalent to use in the calculations.

  • Amortization Length: Years, typically 30 or 15 in US, 25 in Canada
  • Starting Month Year: Select the starting month and enter the year
  • Show full amortization table? No or Yes (This is a long table)
  • Pre-payment method options:

    None : No Prepayments

    Monthly : Pre-pay a set amount each month

    Annually : Pre-pay a set amount once each year

    Bi-weekly A: 26 half paymts/yr – 2 half pre-paymts each 6 months

    Bi-weekly B: 26 half paymts/yr – 1 full pre-paymt each 12 months

    One Time : Pre-pay one set amount after a given # of months

  • Prepayment Amount: Monthly/Annually/One-Time Principal Prepayment Amount
  • Prepayment after month: One-Time Prepayment to be paid after payment number of months
  • Display Using: HTML 3.0 Tables or Plain Text
  • Click here to compare offers from four different lenders.

    Mortgage payment calc

    Mortgage payment calc