To the right is a simple mortgage payment calculator. When entering numbers, just type digits and decimal point. Do not type any other symbols in the blanks.
Principle is the amount of the loan. It may not equal the price of a home. For example you may pay $80,000 for a home but also make a $4,000 down payment. In this case the principle for the loan would be $76,000 which is the price of the home minus the down payment.
Rate is the yearly interest rate in percent.
Term is the number of years it you will be paying on the loan until it is all paid.
The values given by this mortgage calculator are only approximate. You should see your loan advisor at your bank for more accurate information.
Enter only number symbols for each.
- Amount of loan in 'Principle'.
- Yearly interest 'rate' (%)
- Number of years of loan in 'Term'.