Mortgage amount: How much did the house cost you? (If you put a down payment on the house than subtract your down payment from the total. For example: if you put a down payment of $5,000 dollars on a house that costs $50,000, then put 45000 into the “Mortgage amount” box and it will calculate your correct monthly payment.
Mortgage term: How long you will be paying for your house. Either in years or in months.
Interest rate: How much interest you will be paying in percentage. For example: 8 for people living in Philadelphia.
Mortgage start date: The date you are starting the mortgage. It will tell you the dates of payments, and the final date your Interest Balance reaches 0.
Hit “Calculate” and wait a few seconds for the calculations to load. The calculator will then show you the last two years of payment ordered by date.
Use the mortgage calculator to find the perfect monthly rates and terms for your new home!
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