MORTGAGE CALCULATOR FREE ONLINE SMART TOOL IN 2024
MORTGAGE
CALCULATOR | Here I have shared one of the smart
& simple free online Mortgage calculator tools. By using you can calculate your monthly
payment of a mortgage by 1 click.
 |
| MORTGAGE CALCULATOR |
WHAT IS A MORTGAGE CALCULATOR?
A mortgage calculator is a perfect online smart tool for you that will help you to get a better understanding of the various mortgage
options available, the interest rate that you can expect, and the monthly
payment that you'll need to make.
Plus,
by entering in your down payment and mortgage amount, the mortgage calculator will
automatically calculate the term of the mortgage and the interest rate you can
expect.
Are you
thinking of buying a property in the near future? Or do you already own one and
are looking to refinance it?
So
don't wait any longer - take advantage of the mortgage
calculator today and learn all about the different mortgage types available!
In the last article, we learned complete details about the meaning of mortgage with the real definition. If you wish you can learn.
USES OF MORTGAGE CALCULATOR
It uses
various mortgage parameters such as interest rate, down payment amount, and
term of the mortgage to generate the monthly payment.
Furthermore, the mortgage calculator also provides an estimated monthly payment amount for
different loan amortization periods.
So, if you're looking to purchase a home or
refinance your current mortgage, the mortgage calculator is a must-have tool!
Make use of it and get an accurate monthly payment estimate in no time!
HOW MORTGAGE CALCULATOR WORKS?
A simple mortgage
calculator is a calculator that is used to estimate the cost of a
loan. It is very helpful in choosing the right mortgage type for your needs and
situation.
A smart mortgage
calculator can be used to get an idea of how much you could borrow, so
you can start shopping around.
It's a
great way to get an idea of how much the total loan amount could be, and how
much interest you would be paying over the life of the loan.
Use a mortgage calculator to get a quick estimate of how much house you could afford, or how
much you would need to save for a down payment on the home of your dreams.
WHICH IS THE BEST MORTGAGE AVAILABLE IN THE MARKET?
Before
you start the home-buying process, it's important to understand the different
mortgage types available.
There
are a variety of them, each with its own benefits and disadvantages. To
get an idea of the different types of mortgages, it's best to speak with
a loan officer.
They
can help you understand the pros and cons of the different mortgage types,
and help you choose the best one for you.
When
you purchase a home, make sure you're getting the best deal possible by doing
your research.
This
will save you money in the long run. So, what are you waiting for? Start
shopping for a home today and consult a loan officer to get started!
HOW TO USE A MORTGAGE CALCULATOR?
It can
be incredibly useful in determining if a mortgage is the right financial
decision for you.
You
will be able to enter your current income, monthly debt payment, down
payment, interest rate, term of the mortgage, and loan amount.
The
calculator will then provide you with the interest rate, monthly payment, total
payment, amount of interest paid, and the amount of time the loan will take to
pay off.
This
information can be incredibly helpful in making a decision about whether or not
to take on a mortgage.
MORTGAGE PAYMENT FORMULA
The
mortgage payment formula of a fixed-rate loan is the amount of interest divided
by the total monthly payment.
The equation for mortgage payments -
M = P r (1 + r) n/ (1 + r) n – 1
|
Symbol
|
Full Meaning |
|
"M" |
M indicates the total
monthly mortgage payment. |
|
"P" |
P stands for the
primary loan amount. |
|
"r" |
"r" stands
for -Your monthly interest rate. Lenders will give you
an annual rate, which you must reduce by 12 (the number of months in a year)
to obtain the monthly rate. If you have a 5% interest rate, your monthly rate
is 0.004167 (0.05/12=0.004167). |
|
"n" |
N indicates the number
of payments made throughout the life of the loan. To calculate the
number of payments for your loan, multiply the number of years in your loan
term by 12 (the number of months in a year). A 30-year fixed mortgage, for
example, would have 360 payments (30x12=360). |
MORTGAGE AMORTIZATION SCHEDULE WITH EXAMPLE
Purchase Price
$
100,000
Percent Down
20%
Down Payment
$
20,000
Loan Amount
$
80,000
Loan Term
30
years
Interest Rate
3.50%
Monthly Payment
$ 359
Total Principal Paid
$
80,000
62%
Total Interest Paid
$
49,325
38%
Total Paid
$
129,325
Purchase Price
$
100,000
Percent Down
20%
Down Payment
$
20,000
Loan Amount
$
80,000
Loan Term
30
years
Interest Rate
3.50%
Monthly Payment
$ 359
Total Principal Paid
$
80,000
62%
Total Interest Paid
$
49,325
38%
Total Paid
$
129,325
|
Month |
Interest |
Principal |
Balance |
Equity |
|
0 |
$ - |
$ - |
$
80,000 |
$
20,000 |
|
1 |
$ 233 |
$
126 |
$
79,874 |
$
20,126 |
|
2 |
$ 233 |
$
126 |
$
79,748 |
$
20,252 |
|
3 |
$ 233 |
$
127 |
$
79,621 |
$
20,379 |
|
4 |
$ 232 |
$
127 |
$
79,494 |
$
20,506 |
|
5 |
$ 232 |
$
127 |
$
79,367 |
$
20,633 |
|
6 |
$ 231 |
$
128 |
$
79,239 |
$
20,761 |
|
7 |
$ 231 |
$
128 |
$
79,111 |
$
20,889 |
|
8 |
$ 231 |
$
128 |
$
78,982 |
$
21,018 |
|
9 |
$ 230 |
$
129 |
$
78,854 |
$
21,146 |
|
10 |
$ 230 |
$
129 |
$
78,724 |
$
21,276 |
|
11 |
$
230 |
$
130 |
$
78,595 |
$
21,405 |
|
12 |
$ 229 |
$
130 |
$
78,465 |
$
21,535 |
|
13 |
$ 229 |
$
130 |
$
78,334 |
$
21,666 |
|
14 |
$ 228 |
$
131 |
$
78,204 |
$
21,796 |
|
15 |
$ 228 |
$
131 |
$
78,072 |
$
21,928 |
|
16 |
$ 228 |
$
132 |
$
77,941 |
$
22,059 |
|
17 |
$ 227 |
$
132 |
$
77,809 |
$
22,191 |
|
18 |
$ 227 |
$
132 |
$
77,677 |
$
22,323 |
|
19 |
$ 227 |
$
133 |
$
77,544 |
$
22,456 |
|
20 |
$ 226 |
$
133 |
$
77,411 |
$
22,589 |
|
21 |
$ 226 |
$
133 |
$
77,277 |
$
22,723 |
|
22 |
$ 225 |
$
134 |
$
77,144 |
$
22,856 |
|
23 |
$ 225 |
$
134 |
$
77,009 |
$
22,991 |
|
24 |
$ 225 |
$
135 |
$
76,875 |
$
23,125 |
|
25 |
$ 224 |
$
135 |
$
76,740 |
$
23,260 |
|
26 |
$ 224 |
$
135 |
$
76,604 |
$
23,396 |
|
27 |
$
223 |
$
136 |
$
76,469 |
$
23,531 |
|
28 |
$ 223 |
$
136 |
$
76,332 |
$
23,668 |
|
29 |
$ 223 |
$
137 |
$
76,196 |
$
23,804 |
|
30 |
$ 222 |
$
137 |
$
76,059 |
$
23,941 |
|
31 |
$ 222 |
$
137 |
$
75,921 |
$
24,079 |
|
32 |
$ 221 |
$
138 |
$
75,784 |
$
24,216 |
|
33 |
$ 221 |
$
138 |
$
75,645 |
$
24,355 |
|
34 |
$ 221 |
$
139 |
$
75,507 |
$
24,493 |
|
35 |
$ 220 |
$
139 |
$
75,368 |
$
24,632 |
|
36 |
$ 220 |
$
139 |
$
75,228 |
$
24,772 |
|
37 |
$ 219 |
$
140 |
$
75,089 |
$
24,911 |
|
38 |
$ 219 |
$
140 |
$
74,948 |
$
25,052 |
|
39 |
$ 219 |
$
141 |
$
74,808 |
$
25,192 |
|
40 |
$ 218 |
$
141 |
$
74,667 |
$
25,333 |
|
41 |
$ 218 |
$
141 |
$
74,525 |
$
25,475 |
|
42 |
$ 217 |
$
142 |
$
74,383 |
$
25,617 |
|
43 |
$
217 |
$
142 |
$
74,241 |
$
25,759 |
|
44 |
$ 217 |
$
143 |
$
74,098 |
$
25,902 |
|
45 |
$ 216 |
$
143 |
$
73,955 |
$
26,045 |
|
46 |
$ 216 |
$
144 |
$
73,812 |
$
26,188 |
|
47 |
$ 215 |
$
144 |
$
73,668 |
$
26,332 |
|
48 |
$ 215 |
$
144 |
$
73,523 |
$
26,477 |
|
49 |
$ 214 |
$
145 |
$
73,379 |
$
26,621 |
|
50 |
$ 214 |
$
145 |
$
73,233 |
$
26,767 |
|
51 |
$ 214 |
$
146 |
$
73,088 |
$
26,912 |
|
52 |
$ 213 |
$
146 |
$
72,942 |
$
27,058 |
|
53 |
$ 213 |
$
146 |
$
72,795 |
$
27,205 |
|
54 |
$ 212 |
$
147 |
$
72,648 |
$
27,352 |
|
55 |
$ 212 |
$
147 |
$
72,501 |
$
27,499 |
|
56 |
$ 211 |
$
148 |
$
72,353 |
$
27,647 |
|
57 |
$ 211 |
$
148 |
$
72,205 |
$
27,795 |
|
58 |
$ 211 |
$
149 |
$
72,056 |
$
27,944 |
|
59 |
$
210 |
$
149 |
$
71,907 |
$
28,093 |
|
60 |
$ 210 |
$
150 |
$
71,758 |
$
28,242 |
|
61 |
$ 209 |
$
150 |
$
71,608 |
$
28,392 |
|
62 |
$ 209 |
$
150 |
$
71,457 |
$
28,543 |
|
63 |
$ 208 |
$
151 |
$
71,307 |
$
28,693 |
|
64 |
$ 208 |
$
151 |
$
71,155 |
$
28,845 |
|
65 |
$ 208 |
$
152 |
$
71,004 |
$
28,996 |
|
66 |
$ 207 |
$
152 |
$
70,851 |
$
29,149 |
|
67 |
$ 207 |
$
153 |
$
70,699 |
$
29,301 |
|
68 |
$ 206 |
$
153 |
$
70,546 |
$
29,454 |
|
69 |
$ 206 |
$
153 |
$
70,392 |
$
29,608 |
|
70 |
$ 205 |
$
154 |
$
70,238 |
$
29,762 |
|
71 |
$ 205 |
$
154 |
$
70,084 |
$
29,916 |
|
72 |
$ 204 |
$
155 |
$
69,929 |
$
30,071 |
|
73 |
$ 204 |
$
155 |
$
69,774 |
$
30,226 |
|
74 |
$ 204 |
$
156 |
$
69,618 |
$
30,382 |
|
75 |
$
203 |
$
156 |
$
69,462 |
$
30,538 |
|
76 |
$ 203 |
$
157 |
$
69,305 |
$
30,695 |
|
77 |
$ 202 |
$
157 |
$
69,148 |
$
30,852 |
|
78 |
$ 202 |
$
158 |
$
68,991 |
$
31,009 |
|
79 |
$ 201 |
$
158 |
$
68,833 |
$
31,167 |
|
80 |
$ 201 |
$
158 |
$
68,674 |
$
31,326 |
|
81 |
$ 200 |
$
159 |
$
68,515 |
$
31,485 |
|
82 |
$ 200 |
$
159 |
$
68,356 |
$
31,644 |
|
83 |
$ 199 |
$
160 |
$
68,196 |
$
31,804 |
|
84 |
$ 199 |
$
160 |
$
68,036 |
$
31,964 |
|
85 |
$ 198 |
$
161 |
$
67,875 |
$
32,125 |
|
86 |
$ 198 |
$
161 |
$
67,714 |
$
32,286 |
|
87 |
$ 197 |
$
162 |
$
67,552 |
$
32,448 |
|
88 |
$ 197 |
$
162 |
$
67,390 |
$
32,610 |
|
89 |
$ 197 |
$
163 |
$
67,227 |
$
32,773 |
|
90 |
$ 196 |
$
163 |
$
67,064 |
$
32,936 |
|
91 |
$
196 |
$
164 |
$
66,900 |
$
33,100 |
|
92 |
$ 195 |
$
164 |
$
66,736 |
$
33,264 |
|
93 |
$ 195 |
$
165 |
$
66,572 |
$
33,428 |
|
94 |
$ 194 |
$
165 |
$
66,406 |
$
33,594 |
|
95 |
$ 194 |
$
166 |
$
66,241 |
$
33,759 |
|
96 |
$ 193 |
$
166 |
$
66,075 |
$
33,925 |
|
97 |
$ 193 |
$
167 |
$
65,908 |
$
34,092 |
|
98 |
$ 192 |
$
167 |
$
65,741 |
$
34,259 |
|
99 |
$ 192 |
$
167 |
$
65,574 |
$
34,426 |
|
100 |
$ 191 |
$
168 |
$
65,406 |
$
34,594 |
|
101 |
$ 191 |
$
168 |
$
65,237 |
$
34,763 |
|
102 |
$ 190 |
$
169 |
$
65,068 |
$
34,932 |
|
103 |
$ 190 |
$
169 |
$
64,899 |
$
35,101 |
|
104 |
$ 189 |
$
170 |
$
64,729 |
$
35,271 |
|
105 |
$ 189 |
$
170 |
$
64,559 |
$
35,441 |
|
106 |
$ 188 |
$
171 |
$
64,388 |
$
35,612 |
|
107 |
$ 188 |
$
171 |
$
64,216 |
$
35,784 |
|
108 |
$ 187 |
$
172 |
$
64,044 |
$
35,956 |
|
109 |
$ 187 |
$
172 |
$
63,872 |
$
36,128 |
|
110 |
$
186 |
$
173 |
$
63,699 |
$
36,301 |
|
111 |
$ 186 |
$
173 |
$
63,525 |
$
36,475 |
|
112 |
$ 185 |
$
174 |
$
63,352 |
$
36,648 |
|
113 |
$ 185 |
$ 174 |
$
63,177 |
$
36,823 |
|
114 |
$ 184 |
$
175 |
$
63,002 |
$
36,998 |
|
115 |
$ 184 |
$
175 |
$
62,827 |
$
37,173 |
|
116 |
$ 183 |
$
176 |
$
62,651 |
$
37,349 |
|
117 |
$ 183 |
$
177 |
$
62,474 |
$
37,526 |
|
118 |
$ 182 |
$
177 |
$
62,297 |
$
37,703 |
|
119 |
$ 182 |
$
178 |
$
62,120 |
$
37,880 |
|
120 |
$ 181 |
$
178 |
$
61,942 |
$
38,058 |
|
121 |
$ 181 |
$
179 |
$
61,763 |
$
38,237 |
|
122 |
$ 180 |
$
179 |
$
61,584 |
$ 38,416 |
|
123 |
$ 180 |
$
180 |
$
61,404 |
$
38,596 |
|
124 |
$ 179 |
$
180 |
$
61,224 |
$
38,776 |
|
125 |
$ 179 |
$
181 |
$
61,043 |
$
38,957 |
|
126 |
$ 178 |
$
181 |
$
60,862 |
$
39,138 |
|
127 |
$ 178 |
$
182 |
$
60,680 |
$
39,320 |
|
128 |
$ 177 |
$
182 |
$
60,498 |
$
39,502 |
|
129 |
$
176 |
$
183 |
$
60,315 |
$
39,685 |
|
130 |
$ 176 |
$
183 |
$
60,132 |
$
39,868 |
|
131 |
$ 175 |
$
184 |
$
59,948 |
$
40,052 |
|
132 |
$ 175 |
$
184 |
$
59,764 |
$
40,236 |
|
133 |
$ 174 |
$
185 |
$
59,579 |
$
40,421 |
|
134 |
$ 174 |
$
185 |
$
59,394 |
$
40,606 |
|
135 |
$ 173 |
$
186 |
$
59,208 |
$
40,792 |
|
136 |
$ 173 |
$
187 |
$
59,021 |
$
40,979 |
|
137 |
$ 172 |
$
187 |
$
58,834 |
$
41,166 |
|
138 |
$ 172 |
$
188 |
$ 58,646 |
$
41,354 |
|
139 |
$ 171 |
$
188 |
$
58,458 |
$
41,542 |
|
140 |
$ 171 |
$
189 |
$
58,269 |
$
41,731 |
|
141 |
$ 170 |
$
189 |
$
58,080 |
$ 41,920 |
|
142 |
$ 169 |
$
190 |
$
57,890 |
$
42,110 |
|
143 |
$ 169 |
$
190 |
$
57,700 |
$
42,300 |
|
144 |
$ 168 |
$
191 |
$
57,509 |
$
42,491 |
|
145 |
$ 168 |
$
192 |
$
57,317 |
$
42,683 |
|
146 |
$ 167 |
$
192 |
$
57,125 |
$
42,875 |
|
147 |
$ 167 |
$
193 |
$
56,933 |
$
43,067 |
|
148 |
$ 166 |
$
193 |
$
56,740 |
$
43,260 |
|
149 |
$ 165 |
$
194 |
$
56,546 |
$
43,454 |
|
150 |
$ 165 |
$
194 |
$
56,351 |
$
43,649 |
|
151 |
$ 164 |
$
195 |
$
56,157 |
$
43,843 |
|
152 |
$ 164 |
$
195 |
$
55,961 |
$
44,039 |
|
153 |
$ 163 |
$
196 |
$
55,765 |
$
44,235 |
|
154 |
$ 163 |
$
197 |
$
55,569 |
$
44,431 |
|
155 |
$ 162 |
$
197 |
$
55,371 |
$
44,629 |
|
156 |
$ 161 |
$
198 |
$
55,174 |
$
44,826 |
|
157 |
$ 161 |
$
198 |
$ 54,975 |
$
45,025 |
|
158 |
$ 160 |
$
199 |
$
54,776 |
$
45,224 |
|
159 |
$ 160 |
$
199 |
$
54,577 |
$
45,423 |
|
160 |
$ 159 |
$
200 |
$
54,377 |
$
45,623 |
|
161 |
$ 159 |
$
201 |
$
54,176 |
$
45,824 |
|
162 |
$ 158 |
$
201 |
$
53,975 |
$
46,025 |
|
163 |
$ 157 |
$
202 |
$
53,773 |
$
46,227 |
|
164 |
$ 157 |
$
202 |
$
53,571 |
$
46,429 |
|
165 |
$ 156 |
$
203 |
$
53,368 |
$
46,632 |
|
166 |
$ 156 |
$
204 |
$
53,164 |
$
46,836 |
|
167 |
$ 155 |
$
204 |
$
52,960 |
$
47,040 |
|
168 |
$ 154 |
$
205 |
$
52,755 |
$
47,245 |
|
169 |
$ 154 |
$
205 |
$
52,550 |
$
47,450 |
|
170 |
$ 153 |
$
206 |
$
52,344 |
$
47,656 |
|
171 |
$ 153 |
$
207 |
$
52,137 |
$
47,863 |
|
172 |
$ 152 |
$
207 |
$
51,930 |
$
48,070 |
|
173 |
$ 151 |
$ 208 |
$
51,722 |
$
48,278 |
|
174 |
$ 151 |
$
208 |
$
51,514 |
$
48,486 |
|
175 |
$ 150 |
$
209 |
$
51,305 |
$
48,695 |
|
176 |
$ 150 |
$
210 |
$
51,096 |
$
48,904 |
|
177 |
$ 149 |
$
210 |
$
50,885 |
$
49,115 |
|
178 |
$ 148 |
$
211 |
$
50,675 |
$
49,325 |
|
179 |
$ 148 |
$
211 |
$
50,463 |
$
49,537 |
|
180 |
$ 147 |
$
212 |
$
50,251 |
$
49,749 |
|
181 |
$ 147 |
$
213 |
$
50,038 |
$
49,962 |
|
182 |
$ 146 |
$
213 |
$
49,825 |
$
50,175 |
|
183 |
$ 145 |
$
214 |
$
49,611 |
$
50,389 |
|
184 |
$ 145 |
$
215 |
$
49,397 |
$
50,603 |
|
185 |
$ 144 |
$
215 |
$
49,181 |
$
50,819 |
|
186 |
$ 143 |
$
216 |
$
48,966 |
$
51,034 |
|
187 |
$ 143 |
$
216 |
$
48,749 |
$
51,251 |
|
188 |
$ 142 |
$
217 |
$
48,532 |
$
51,468 |
|
189 |
$
142 |
$
218 |
$
48,315 |
$
51,685 |
|
190 |
$ 141 |
$
218 |
$
48,096 |
$
51,904 |
|
191 |
$ 140 |
$
219 |
$
47,877 |
$
52,123 |
|
192 |
$ 140 |
$ 220 |
$
47,658 |
$
52,342 |
|
193 |
$ 139 |
$
220 |
$
47,437 |
$
52,563 |
|
194 |
$ 138 |
$
221 |
$
47,217 |
$
52,783 |
|
195 |
$ 138 |
$
222 |
$
46,995 |
$
53,005 |
|
196 |
$ 137 |
$
222 |
$
46,773 |
$
53,227 |
|
197 |
$ 136 |
$
223 |
$
46,550 |
$
53,450 |
|
198 |
$ 136 |
$
223 |
$
46,327 |
$
53,673 |
|
199 |
$ 135 |
$
224 |
$
46,102 |
$
53,898 |
|
200 |
$ 134 |
$
225 |
$
45,878 |
$
54,122 |
|
201 |
$ 134 |
$
225 |
$
45,652 |
$ 54,348 |
|
202 |
$ 133 |
$
226 |
$
45,426 |
$
54,574 |
|
203 |
$ 132 |
$
227 |
$
45,199 |
$
54,801 |
|
204 |
$ 132 |
$
227 |
$
44,972 |
$
55,028 |
|
205 |
$ 131 |
$
228 |
$
44,744 |
$
55,256 |
|
206 |
$ 131 |
$
229 |
$
44,515 |
$
55,485 |
|
207 |
$ 130 |
$
229 |
$
44,286 |
$
55,714 |
|
208 |
$
129 |
$
230 |
$
44,056 |
$
55,944 |
|
209 |
$ 128 |
$
231 |
$
43,825 |
$
56,175 |
|
210 |
$ 128 |
$
231 |
$
43,594 |
$
56,406 |
|
211 |
$ 127 |
$
232 |
$
43,362 |
$
56,638 |
|
212 |
$ 126 |
$
233 |
$
43,129 |
$
56,871 |
|
213 |
$ 126 |
$
233 |
$
42,895 |
$
57,105 |
|
214 |
$ 125 |
$
234 |
$
42,661 |
$
57,339 |
|
215 |
$ 124 |
$
235 |
$
42,426 |
$
57,574 |
|
216 |
$ 124 |
$
235 |
$
42,191 |
$
57,809 |
|
217 |
$ 123 |
$
236 |
$
41,955 |
$
58,045 |
|
218 |
$ 122 |
$
237 |
$
41,718 |
$
58,282 |
|
219 |
$ 122 |
$
238 |
$
41,480 |
$
58,520 |
|
220 |
$ 121 |
$
238 |
$
41,242 |
$ 58,758 |
|
221 |
$ 120 |
$
239 |
$
41,003 |
$
58,997 |
|
222 |
$ 120 |
$
240 |
$
40,763 |
$
59,237 |
|
223 |
$ 119 |
$
240 |
$
40,523 |
$
59,477 |
|
224 |
$ 118 |
$
241 |
$
40,282 |
$
59,718 |
|
225 |
$ 117 |
$
242 |
$
40,040 |
$
59,960 |
|
226 |
$ 117 |
$
242 |
$
39,798 |
$
60,202 |
|
227 |
$
116 |
$
243 |
$
39,555 |
$
60,445 |
|
228 |
$ 115 |
$
244 |
$
39,311 |
$
60,689 |
|
229 |
$ 115 |
$
245 |
$
39,066 |
$
60,934 |
|
230 |
$ 114 |
$
245 |
$
38,821 |
$
61,179 |
|
231 |
$ 113 |
$
246 |
$
38,575 |
$
61,425 |
|
232 |
$ 113 |
$
247 |
$
38,328 |
$
61,672 |
|
233 |
$ 112 |
$
247 |
$
38,081 |
$
61,919 |
|
234 |
$ 111 |
$
248 |
$
37,833 |
$
62,167 |
|
235 |
$ 110 |
$
249 |
$
37,584 |
$
62,416 |
|
236 |
$ 110 |
$
250 |
$ 37,334 |
$
62,666 |
|
237 |
$ 109 |
$
250 |
$
37,084 |
$
62,916 |
|
238 |
$ 108 |
$
251 |
$
36,833 |
$
63,167 |
|
239 |
$ 107 |
$
252 |
$
36,581 |
$
63,419 |
|
240 |
$ 107 |
$
253 |
$
36,328 |
$
63,672 |
|
241 |
$ 106 |
$
253 |
$
36,075 |
$
63,925 |
|
242 |
$ 105 |
$
254 |
$
35,821 |
$
64,179 |
|
243 |
$ 104 |
$
255 |
$
35,566 |
$
64,434 |
|
244 |
$ 104 |
$
256 |
$
35,311 |
$
64,689 |
|
245 |
$ 103 |
$
256 |
$
35,055 |
$
64,945 |
|
246 |
$ 102 |
$
257 |
$
34,798 |
$
65,202 |
|
247 |
$ 101 |
$
258 |
$
34,540 |
$
65,460 |
|
248 |
$ 101 |
$
258 |
$
34,281 |
$
65,719 |
|
249 |
$ 100 |
$
259 |
$
34,022 |
$
65,978 |
|
250 |
$ 99 |
$
260 |
$
33,762 |
$
66,238 |
|
251 |
$ 98 |
$
261 |
$
33,501 |
$
66,499 |
|
252 |
$ 98 |
$ 262 |
$
33,240 |
$
66,760 |
|
253 |
$ 97 |
$
262 |
$
32,977 |
$
67,023 |
|
254 |
$ 96 |
$
263 |
$
32,714 |
$
67,286 |
|
255 |
$ 95 |
$
264 |
$
32,451 |
$
67,549 |
|
256 |
$ 95 |
$
265 |
$
32,186 |
$
67,814 |
|
257 |
$ 94 |
$
265 |
$
31,921 |
$
68,079 |
|
258 |
$ 93 |
$
266 |
$ 31,655 |
$
68,345 |
|
259 |
$ 92 |
$
267 |
$
31,388 |
$
68,612 |
|
260 |
$ 92 |
$
268 |
$
31,120 |
$
68,880 |
|
261 |
$ 91 |
$
268 |
$
30,851 |
$
69,149 |
|
262 |
$ 90 |
$
269 |
$
30,582 |
$
69,418 |
|
263 |
$ 89 |
$
270 |
$
30,312 |
$
69,688 |
|
264 |
$ 88 |
$
271 |
$
30,041 |
$
69,959 |
|
265 |
$ 88 |
$
272 |
$
29,770 |
$
70,230 |
|
266 |
$ 87 |
$
272 |
$
29,497 |
$
70,503 |
|
267 |
$ 86 |
$
273 |
$
29,224 |
$
70,776 |
|
268 |
$ 85 |
$
274 |
$
28,950 |
$
71,050 |
|
269 |
$ 84 |
$
275 |
$
28,675 |
$
71,325 |
|
270 |
$ 84 |
$
276 |
$
28,400 |
$
71,600 |
|
271 |
$ 83 |
$
276 |
$
28,123 |
$
71,877 |
|
272 |
$ 82 |
$
277 |
$
27,846 |
$
72,154 |
|
273 |
$ 81 |
$
278 |
$
27,568 |
$
72,432 |
|
274 |
$ 80 |
$
279 |
$
27,289 |
$
72,711 |
|
275 |
$ 80 |
$
280 |
$
27,010 |
$
72,990 |
|
276 |
$ 79 |
$
280 |
$
26,729 |
$
73,271 |
|
277 |
$ 78 |
$ 281 |
$
26,448 |
$
73,552 |
|
278 |
$ 77 |
$
282 |
$
26,166 |
$
73,834 |
|
279 |
$ 76 |
$
283 |
$
25,883 |
$
74,117 |
|
280 |
$ 75 |
$
284 |
$
25,599 |
$
74,401 |
|
281 |
$ 75 |
$
285 |
$
25,315 |
$
74,685 |
|
282 |
$ 74 |
$
285 |
$
25,029 |
$
74,971 |
|
283 |
$ 73 |
$
286 |
$ 24,743 |
$
75,257 |
|
284 |
$ 72 |
$
287 |
$
24,456 |
$
75,544 |
|
285 |
$ 71 |
$
288 |
$
24,168 |
$
75,832 |
|
286 |
$ 70 |
$
289 |
$
23,879 |
$
76,121 |
|
287 |
$ 70 |
$
290 |
$
23,590 |
$
76,410 |
|
288 |
$ 69 |
$
290 |
$
23,299 |
$
76,701 |
|
289 |
$ 68 |
$
291 |
$
23,008 |
$ 76,992 |
|
290 |
$ 67 |
$
292 |
$
22,716 |
$
77,284 |
|
291 |
$ 66 |
$
293 |
$
22,423 |
$
77,577 |
|
292 |
$ 65 |
$
294 |
$
22,129 |
$
77,871 |
|
293 |
$ 65 |
$
295 |
$
21,834 |
$
78,166 |
|
294 |
$ 64 |
$
296 |
$
21,539 |
$
78,461 |
|
295 |
$ 63 |
$
296 |
$
21,242 |
$
78,758 |
|
296 |
$ 62 |
$
297 |
$
20,945 |
$
79,055 |
|
297 |
$ 61 |
$
298 |
$
20,647 |
$
79,353 |
|
298 |
$ 60 |
$
299 |
$
20,348 |
$
79,652 |
|
299 |
$
59 |
$
300 |
$
20,048 |
$
79,952 |
|
300 |
$ 58 |
$
301 |
$
19,747 |
$
80,253 |
|
301 |
$ 58 |
$
302 |
$
19,446 |
$
80,554 |
|
302 |
$ 57 |
$
303 |
$
19,143 |
$
80,857 |
|
303 |
$ 56 |
$
303 |
$
18,840 |
$
81,160 |
|
304 |
$ 55 |
$
304 |
$
18,535 |
$
81,465 |
|
305 |
$ 54 |
$
305 |
$
18,230 |
$
81,770 |
|
306 |
$ 53 |
$
306 |
$
17,924 |
$
82,076 |
|
307 |
$ 52 |
$
307 |
$
17,617 |
$
82,383 |
|
308 |
$ 51 |
$
308 |
$
17,309 |
$
82,691 |
|
309 |
$ 50 |
$
309 |
$
17,001 |
$
82,999 |
|
310 |
$ 50 |
$
310 |
$
16,691 |
$
83,309 |
|
311 |
$ 49 |
$
311 |
$
16,380 |
$
83,620 |
|
312 |
$ 48 |
$
311 |
$
16,069 |
$
83,931 |
|
313 |
$ 47 |
$
312 |
$
15,757 |
$
84,243 |
|
314 |
$ 46 |
$
313 |
$
15,443 |
$ 84,557 |
|
315 |
$ 45 |
$
314 |
$
15,129 |
$
84,871 |
|
316 |
$ 44 |
$
315 |
$
14,814 |
$
85,186 |
|
317 |
$ 43 |
$
316 |
$
14,498 |
$
85,502 |
|
318 |
$ 42 |
$
317 |
$
14,181 |
$
85,819 |
|
319 |
$ 41 |
$
318 |
$
13,863 |
$
86,137 |
|
320 |
$ 40 |
$
319 |
$
13,544 |
$
86,456 |
|
321 |
$ 40 |
$
320 |
$
13,225 |
$
86,775 |
|
322 |
$ 39 |
$
321 |
$
12,904 |
$
87,096 |
|
323 |
$ 38 |
$
322 |
$
12,582 |
$
87,418 |
|
324 |
$
37 |
$
323 |
$
12,260 |
$
87,740 |
|
325 |
$ 36 |
$
323 |
$
11,936 |
$
88,064 |
|
326 |
$ 35 |
$
324 |
$
11,612 |
$
88,388 |
|
327 |
$ 34 |
$
325 |
$
11,286 |
$
88,714 |
|
328 |
$ 33 |
$
326 |
$
10,960 |
$
89,040 |
|
329 |
$ 32 |
$
327 |
$
10,633 |
$
89,367 |
|
330 |
$ 31 |
$
328 |
$
10,305 |
$
89,695 |
|
331 |
$ 30 |
$
329 |
$
9,975 |
$
90,025 |
|
332 |
$ 29 |
$
330 |
$
9,645 |
$
90,355 |
|
333 |
$ 28 |
$
331 |
$
9,314 |
$
90,686 |
|
334 |
$ 27 |
$
332 |
$
8,982 |
$
91,018 |
|
335 |
$ 26 |
$
333 |
$
8,649 |
$
91,351 |
|
336 |
$ 25 |
$
334 |
$ 8,315 |
$
91,685 |
|
337 |
$ 24 |
$
335 |
$
7,980 |
$
92,020 |
|
338 |
$ 23 |
$
336 |
$
7,644 |
$
92,356 |
|
339 |
$ 22 |
$
337 |
$
7,307 |
$
92,693 |
|
340 |
$ 21 |
$
338 |
$
6,969 |
$
93,031 |
|
341 |
$ 20 |
$
339 |
$
6,630 |
$
93,370 |
|
342 |
$ 19 |
$
340 |
$
6,291 |
$
93,709 |
|
343 |
$ 18 |
$
341 |
$
5,950 |
$
94,050 |
|
344 |
$ 17 |
$
342 |
$
5,608 |
$
94,392 |
|
345 |
$ 16 |
$
343 |
$
5,265 |
$
94,735 |
|
346 |
$ 15 |
$
344 |
$
4,921 |
$
95,079 |
|
347 |
$ 14 |
$
345 |
$
4,576 |
$
95,424 |
|
348 |
$ 13 |
$
346 |
$
4,230 |
$
95,770 |
|
349 |
$ 12 |
$
347 |
$
3,883 |
$
96,117 |
|
350 |
$ 11 |
$
348 |
$
3,535 |
$
96,465 |
|
351 |
$ 10 |
$
349 |
$
3,186 |
$
96,814 |
|
352 |
$ 9 |
$
350 |
$
2,837 |
$
97,163 |
|
353 |
$ 8 |
$
351 |
$
2,486 |
$
97,514 |
|
354 |
$ 7 |
$
352 |
$
2,134 |
$
97,866 |
|
355 |
$ 6 |
$
353 |
$
1,781 |
$
98,219 |
|
356 |
$ 5 |
$
354 |
$
1,427 |
$
98,573 |
|
357 |
$ 4 |
$
355 |
$
1,071 |
$
98,929 |
|
358 |
$
3 |
$
356 |
$
715 |
$
99,285 |
|
359 |
$ 2 |
$
357 |
$
358 |
$
99,642 |
|
360 |
$ 1 |
$
358 |
$ (0) |
$
100,000 |
WHAT ARE SOME OTHER FEATURES THAT ARE AVAILABLE WITH MORTGAGE CALCULATORS?
Mortgage
calculators provide a variety of valuable information that can help you in
making informed decisions when it comes to mortgage loans.
These
include property tax calculations, estimated home value estimations, and monthly
payment calculations.
Additionally, mortgage calculators often offer
other features such as loan interest rate comparisons, term length
comparisons, and more.
NOTE- When using a mortgage calculator, be sure to input the
relevant details of your home purchase so that the results are as accurate as possible.
WHAT ARE THE DIFFERENT TYPES OF HOME LOANS?
-Fixed-rate
mortgage
-Variable-rate
mortgage
-FHA loan
calculator
- Conventional
loan calculator
What is a fixed-rate mortgage?
A
fixed-rate mortgage loan is one in which the interest rate remains the same
throughout the term of the loan.
What is a Variable-rate mortgage?
A
variable-rate mortgage loan changes interest rate periodically, usually monthly
or annually. This means the payment you make every month could be higher or
lower than what you were paying previously based on the current interest rate.
What is an FHA loan calculator?
The
loan amount you qualify for, your down payment, and mortgage insurance requirements
can all be determined using the FHA loan calculator.
What is a conventional loan calculator?
The
conventional loan calculator can help you determine the amount of money you'll
need to borrow for a home purchase and how much down payment you'll need.
How to use a mortgage calculator?
There
is no need to use a mortgage calculator if you already have the down payment
amount and loan amortization schedule of your desired home purchase.
However,
if you do not have this information or are unsure how to calculate it
yourself, the following are instructions on how to use a mortgage calculator:
- Input
the monthly interest rate, term of the loan (in years), down payment amount, and
annual property tax rate.
- Click
the "calculate" button
- The
resulting mortgage term will indicate the total amount of interest paid over
the life of the loan.
- The mortgage payment amount will be the
total monthly payment amount divided by the term of the loan.
Frequently
Asked Questions
What is the principal of a loan?
The
principal of a loan is the amount of money that the lender is lending you.
What is a down payment?
A down
payment is the amount of money you need to put down on a home before the loan
lender will approve your mortgage.
APR vs interest rate?
The
interest rate is the amount of interest that you will pay on your mortgage
loan. The APR is the annual percentage rate, which is a figure that shows how
much interest you will be paying over the life of your loan.
How much are closing costs?
Closing
costs can vary depending on the mortgage loan you choose, but they typically
include property taxes, homeowners insurance, and title insurance.
How much is private mortgage insurance?
Private
mortgage insurance protects the lender in the event that you cannot repay your
loan. This fee is usually required when the borrower has a low credit score or
adjustable rate mortgage.
How much is homeowner's insurance?
Homeowner's
insurance protects the property you are living in and covers repairs or
replacements if something happens to the house.
Conclusion – Here I have explained full detail about what
is the meaning of a Mortgage calculator, whether it shows accurate results or not, whether is it fake or real, and why/how to use a free Mortgage loan calculator
with its advantages and disadvantages complete guide for beginners in
2022.
Tags- Mortgage loan calculator, Mortgage calculator.