Mortgage Interest & Amortization Calculator
With this interest calculator, you can find out just how much a new house would to cost you each month. You may find that purchasing a house or condo may be cheaper than renting! Enter values in the fields below to find out how much each monthly payment would be with the given number of payments, interest rate, and principal amount of the loan.
PHP Mortgage Calculator
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Try out different mortgage rates in the calculator to see how it can affect the payment amount.
It's important to note that the monthly payment amount generated by this calculator is only an estimate, and may not reflect the actual amount you will be required to pay. Your actual monthly payment may be higher or lower depending on a variety of factors, including the terms of your loan and any additional fees or charges.
Before making a decision on purchasing a house or condo, it's always a good idea to consult with a financial advisor or mortgage lender. They can help you understand the full cost of homeownership and provide guidance on the best options for your individual situation.
Using this interest calculator can give you a rough idea of what to expect, but it's important to thoroughly research and understand the costs and obligations associated with homeownership before making a decision.
