The calculation of Principal & Interest will be exactly correct, based on the numbers you insert below. This calculator also gives estimates for Mortgage Insurance & Property Taxes.
Make sure you contact your Realtor® or Lender for exact numbers that will be based on the specific property as well as your lending qualifications. In addition to below numbers, your Lender/Realtor® can give you any applicable costs for; monthly condo fee, homeowner's association HOA fee, and/or needed Home owner's Insurance or HO6 Insurance for condos.
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.