The mortgage calculator allows you to compute an estimate of your monthly mortgage payment as well as providing the ability to generate an amortization schedule of the mortgage payments. The calculator will take as inputs details of a mortgage such as the Annual interest rate (APR) the loan term in years, any real estate taxes, home insurance and private mortgage insurance (PMI) information.
Using this information the calculator will present your monthly payments involved with either your principal and interest, your taxes, insurance and PMI and the total monthly payments.
You can also generate an amortization schedule of your mortgage that will break your payments down by month, showing how much of your payment will go off your principal verse the interest for each month as well as the remaining mortgage balance.
It is important to understand that this calculator is a general calculator that is for information purposes only. Any given financing option you might be looking at may have specific details relating to the costs or savings involved that may not be accounted for by this calculator. As such, the calculators should be used only to get an initial indication of the potential feasibility of a mortgage option and you should always have a professional evaluate the payments, costs and conditions involved with any specific financing option you might consider.
