Mortgage Calculator

This calculator is intended to aid you in determining what your approximate monthly payment will be, or show how much money you can afford to borrow.
If you know how much money you need to borrow, type it into the Loan Amount and click Calculate. Your monthly payments will appear in the Payment box.
If you know how much you would like your monthly payment to be, enter that in the Payment box and click Calculate. The Loan Amount will show you how much you can borrow.

You can adjust your entries anytime

Just change any of the 4 values and click Calculate. The Print Table button will display an amortization table showing your payment schedule.
Down payments will usually be between 5 and 20 percent of the price of the home. Increasing your down payment will reduce your monthly payment and may allow you to qualify for better terms on your loan.
Loan Amount: (Do not use a comma or Dollar sign.)
Interest Rate: % Current Rate Quote.
Term: years. (The duration of the loan)
Monthly Payment:

This simple calculator is meant to give you a general idea of payments and affordability. It does not take into account fees, points, taxes, insurance or other factors which will be present when you accually make a home loan.

A home loan often involves many fees, such as application, appraisal, loan origination or under-writing fees, broker fees, and transaction, settlement, and closing costs.

 Every lender or broker should be able to give you an estimate of their fees. Many of these fees are negotiable.


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copyright © 2002, Ellie Bane