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...
Price of home:
of the home you wish to buy.
Cash on hand:
Cash you have
for the down payment and closing costs.
interest rate you can receive on your mortgage.
Term in years:
The number of
years over which you will repay this loan.
Property tax rate:
property tax rate. 1% for a $100,000 home equals $1,000 per year in property
Home insurance rate:
homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for
Loan origination rate:
percentage the lending institution charges for its origination fee. 1% for a
$100,000 home equals $1,000.
The total number
of points paid to reduce the interest rate of your mortgage. Each point costs
1% of your mortgage balance.
Other closing costs:
of all other closing costs for this loan. This should include filing fees,
appraiser fees and any other misc. fees paid.
Total closing costs:
front costs to close your loan. This is the sum of the loan origination fee,
amount paid for points and other closing costs.
Total for down payment:
funds remaining for down payment.
percentage return you would receive if you invested your closing costs and down
payment instead of purchasing a home.
Monthly rent payment:
you currently pay for rent per month.
Income tax rate:
marginal income tax rate.
Inflation rate used to adjust amounts subject to annual increases.
This includes rent, insurance and tax payments.
Home appreciates at:
appreciation you expect in the home you are purchasing.
Future sales commission:
percent of your homes selling price you expect to pay to a broker or real
estate agent when you sell your home.
principal, interest, taxes and insurance paid per month for your home.
Insurance includes PMI and homeowner.
principal paid per month on your mortgage.
The value of the
tax deduction you receive on your mortgage's interest and home's property
taxes. For example, if you have $900 in interest and $100 property taxes per
month, the value of the tax deduction would be $280. (At a tax rate of
Net house payment:
payment minus the value of the tax deduction and principal
Net home price:
price of your home after subtracting any sales commissions.
and interest payment.
Monthly cost of
Principal Mortgage Insurance (PMI). For loans secured with less than 20% down,
PMI is estimated at 0.5% of your loan balance each year.