Also choose whether ‘Length of Loan’ is years or months.įirst Payment Date: The date or month and year when you will make your first payment.Īdditional Principal: The additional amount you will pay each month (over the required ‘Monthly Payment’ amount) to pay down the principal on your loan. Length of Loan: How long you will pay on this loan. Interest Rate: The annual percentage rate you will pay for this loan. (NOT the amount of money you plan to borrow.)ĭown Payment: The amount of money you plan to put as a down payment on your property. Sale Price: The sale price for your property. This field is not required but may help if you have printed out several loan scenarios. Lender: The name of your potential lender. Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator. You can display and/or print the entire amortization schedule for your loan.
You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time. Enter the anticipated costs for property tax, homerowner’s insurance, and PMI (Private Mortgage Insurance) to get a much more accurate monthly mortgage payment than just principal and interest (P&I).
You can also enter the points and other closing costs and roll those into your loan. This calculator will then show you the monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. Enter your sale price, down payment, the interest rate and the term of the loan. How much will my actual mortgage payment be, including taxes and insurance?Ĭalculate the monthly payments for a mortgage including principal, interest, taxes and insurance (PITI).
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