The Best Mortgage Calculators On the Web!
Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
Monthly Payments &
Schedule
Use this calculator to generate
an amortization schedule for your current mortgage. Quickly see how much
interest you will pay, and your principal balances. You can even determine the
impact of any principal prepayments! Press the report button for a full
amortization schedule, either by year or by month.
Definitions
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Mortgage amount
Original or
expected balance for your mortgage.
-
Interest rate
Annual interest
rate for this mortgage.
-
Term in years
The number of
years over which you will repay this loan. The most common mortgage terms are
15 years and 30 years.
-
Monthly payment
Monthly
principal and interest payment (PI).
-
Total payments
Total of all
monthly payments over the full term of the mortgage. This total payment amount
assumes that there are no prepayments of principal.
-
Total interest
Total of all
interest paid over the full term of the mortgage. This total interest amount
assumes that there are no prepayments of principal.
-
Prepayment type
The frequency
of prepayment. The options are none, monthly, yearly and a one time
payment.
-
Prepayment amount
Amount that
will be prepaid on your mortgage. This amount will be applied to the mortgage
principal balance, based on the prepayment type.
-
Start with payment
This is the
payment number that your prepayments will begin with. For a one time payment,
this is the payment number that the single prepayment will be included in. All
prepayments of principal are assumed to be received by your lender in time to
be included in the following month's interest calculation.
-
Savings
Total amount of
interest you will save by prepaying your mortgage.
Information and interactive calculators are
made available to you as self-help tools for your independent use. We can not
and do not guarantee their accuracy or their applicability to your
circumstances. We encourage you to seek personalized advice from qualified
professionals regarding all personal finance issues. |
