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...
expected balance for your mortgage.
rate for this mortgage.
Interest rate after
Annual effective interest rate after taxes are taken into
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.
principal and interest payment (PI).
Federal tax rate:
federal tax rate you expect to pay.
The marginal state tax rate you expect to pay.
Annual Percentage Rate (APR)
standard calculation used by lenders. It is designed to help borrowers compare
different loan options. For example, a loan with a lower stated interest rate
may be a bad value if its fees are too high. Likewise, a loan with a higher
stated rate with very low fees could be an exceptional value. APR calculations
incorporate these fees into a single rate. You can then compare loans with
different fees, rates or different terms.
APR after taxes
percentage rate after taxes are taken into account. Unlike your after tax
interest rate the APR after taxes takes closing costs into
Loan origination percent
percent of your loan charged as a loan origination fee. For example, a 1% fee
on a $120,000 loan would cost $1,200.
of "points" purchased to reduce your mortgage's interest rate. Each "point"
costs 1% of you loan amount.
Any other fees that
should be included in the APR calculation. These fees can vary by lender, but
at a minimum usually includes prepaid interest.