All calculators are made available as self-help tools for your
independent use with results based on information provided by the user.
All examples are hypothetical and are for illustrative purposes only.
Calculated results are believed to be accurate but results are not
guaranteed. Mortgage calculator results are based upon conventional
program guidelines. Other loan programs are available. Further review by
a professional is necessary to obtain exact and complete information
and available options for your personal circumstances.
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A title for these calculator
results that will help you identify it if you have printed out several
versions of the calculator.
The name of your potential lender.
This field is not required but may help if you have printed out several
The sale price for your
property. (NOT the amount of money you plan to borrow.)
The amount of money you plan to
put as a down payment on your property.
The annual percentage rate you
will pay for this loan.
The length of your balloon
mortgage or loan. Your balance or 'Balloon Payment Amount' will be due
at this time. Also choose whether 'Length of Balloon Period' is years or
The monthly payment
and interest are calculated as if the mortgage or loan were being paid
over this length. Also choose whether 'Length of Amortized Interest' is
years or months.
The additional amount you will
pay each month (over the required 'Monthly Payment' amount) to pay down
the principal on your loan.
The number of points (or
percentage of the loan amount) you'll be paying to close this loan.
Check 'Roll into Loan' if the cost of the loan points is being financed
and included in the 'Loan Amount'.
Should be checked if the
'Points' are to be included in the loan as opposed to paid at closing.
Any other costs you'll be paying
during the closing of your loan. These might be costs like the
appraisal, property taxes, property insurance, title insurance, realtor
fees, etc. Check 'Roll into Loan' if your closing costs (not to include
loan points) is being financed and included in the 'Loan Amount'.
Should be checked if the
'Other Closing Costs' are to be included in the loan as opposed to paid
'Principal' + 'Interest' +
'Additional Principal' (where applicable) to be paid each month. Actual
payment could include escrow for insurance and property taxes plus
private mortgage insurance (PMI).
'Sale Price' - 'Down Payment' +
'Points' (if rolled into loan) + 'Other Closing Costs' (if rolled into
Total amount of interest you will
pay over 'Length of Loan'.
Total amount of principal +
interest you will pay over 'Length of Loan'.
Amount of time until the loan
is paid off.
The amount due at the end of
'Length of Balloon Period'.
The number of payments you will
make to pay off the loan.
The amount of money you will
pay each year for this loan.
The points percentage applied to
the amount you borrow gives the dollar amount the loan points will cost.
Total cost of this property
when you include the 'Sale Price', 'Points Amount', 'Other Closing
Costs' and the 'Total Interest' to be paid on the mortgage.
When checked, a section will
appear below the calculator showing the complete amortization table.
LoanAmount * (Rate / 12) / (1 - (1 +
(Rate / 12))-Months)
$854.36 = $142,500.00 *
(0.0600 / 12) / (1 - (1 + (0.0600 / 12))-360)
Sale Price - Down Payment + Points
Amount (if rolled into loan) + Other Closing Costs (if rolled into
$142,500.00 = $150,000.00 - $7,500.00 + $0.00 + $0.00
$57,002.34 = Previous
Month's Total Interest + (Month's Beginning Balance * (Rate / 12)) each
month until Balance = 0
Loan Amount + Total Interest
= $142,500.00 + $57,002.34
7 Yrs = (Previous Number
of Monthly Payments + 1 each month until Balance = 0) / 12 [to convert
to years and months]
Loan Balance after Length of
Balloon Period + Interest
$128,590.46 = $127,950.71 + $639.75
84 = Previous Number of
Monthly Payments + 1 each month until Balance = 0
Monthly Payment * 12
= $854.36 * 12
(Sale Price - Down Payment) *
(Points / 100)
$2,137.50 = ($150,000.00 - $7,500.00) * (1.5000
Sale Price + Points Amount +
Other Closing Costs + Total Interest
$213,639.84 = $150,000.00
+ $2,137.50 + $4,500.00 + $57,002.34