Number of Years:
Step #1:
Enter the length in years of your mortgage.
Interest Rate:
Step #2:
Enter the estimated interest rate of your loan.
Purchase Price (PP):
Step #3:
Enter the purchase price of your home.
Down Payment (DP):
Step #4:
Enter the amount of your down payment
Step #5:
Click on [Compute].
Principle (PP-DP):
This is the amount you are financing.
Mortgage Payment:
This is a list of your itemized, monthly payments.
PMI Insurance:
% of DP
Some loans may not require that you have PMI Insurance.
Property Tax:
% of PP =
/ 12 =
*See note below
Insurance:
% of PP =
/ 12 =
*See note below
Total Monthly Payment:
And this is your total monthly payment
*Note: You may need to adjust the tax rate and insurance rate for your area.