Mortgage Calculator

Please use the following free mortgage calculator (to the right) to determine your monthly mortgage payment given the following details:

• Sales Price
• Down Payment Percentage
• Mortgage Term (15, 25, 30, 40 years).
• Property Taxes
• Property Insurance
• PMI

How to Use the Mortgage Calculator

• Purchase price – This is total sales price of your new home in whole dollars. This amount, less any down payment, will be the amount you borrow from your bank.
• Down payment – Enter the percentage of the Purchase price that you plan to pay upfront. If, for example, you plan to make a $25,000 down payment on a $250,000 home, enter 10 %.
• Mortgage term – Determine the number of years over which you’d like to pay your mortgage and enter it here. Common values are 10, 15, and 30.
• Interest rate – Enter the actual interest percentage your bank will apply to the amount you borrow. Do not include any Private Mortgage Insurance (PMI) percentages your bank may require.
• Property Taxes – Enter the yearly tax you’ll pay on the value of your property.
• Property Insurance – Determine the yearly amount to insure your property and enter it here.
• PMI – If your down payment is less than 20% of your home’s purchase price, your bank may require you to pay an additional yearly percentage of your home’s purchase price in the form of Private Mortgage Insurance (PMI). If so, enter the PMI percentage here.

Rate of Return Calculator

Use this calculator to determine your house’s average annual appreciation (or depreciation) since you bought it. This calculator does not determine the rate of return on your home investment. It shows you what was the average percentage gain or loss per the number of years of your home ownership.

Home Equity Calculator

How much equity do you have in your home? This calculator will help you determine how much equity you have in your home and it may help you to determine how much you can borrow against.

Read more about mortgage loan and mortgage calculator at Wikipedia.