Here's how to use the calculator:
- Input different Interest Rates, Loan Amounts, and Mortgage Lengths
- Click on Calculate to estimate your Monthly Payment and Total Interest
- Click on Show Amortization Table to see an amortization schedule of a loan
which will show you how much of your payment goes towards principal and how
much towards interest. This loan calculator should be used only as an estimation
as it doesn't allow for taxes or insurance.
DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan
programs are available. Calculations by this tool are believed to be accurate, yet are not
guaranteed. Further review is necessary to obtain an exact qualification. If you have less
than 20% equity in your home, a monthly mortgage insurance payment may be required.
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