MORTGAGE CALCULATOR

Years: Interest: Mortgage Amount:
Annual Tax: Annual Insurance:
Monthly Principle + Interest
Monthly Tax
Monthly Insurance
Total Mortgage Payment

Calculations are intended to provide estimates and are not final or binding loan amounts.


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Mortgage Rates Calculator explained by videos

Video on "Mortgages and Interest"

sample from video 'This is Bob and Sally and they want to buy a home. They manage to save some money for a down payment. They have pretty good credit and they're watching interest rates very carefully but they still have a bunch of questions and are really not sure how much they can afford. "I could pluck some numbers into an Excel spreadsheet" said Bob, but before bob could explain his cost to income ratio matrix... '

'Interest rates are really low, about the lowest in the past 40 years and that's a big deal as you can save you a ton of money. Let's say you take out a mortgage for two hundred fifty thousand dollars at six percent. Your monthly payment is 1,498 dollars per month and at five percent its 1342 dollars per month, that is $156 dollars less and if you continue that over the life of a 30-year mortgage. It really adds up, let's seeover fifty-six thousand dollars.

Mortgage rate calculator part 2

'Wow and that is all interest so you see how lucky we are right now with interest rates so low. Just nine years ago interest rates word eight-percent. Figure that one out said Bill. Luckily Bob just happened to have his calculator on hand. "Holy smokes, the difference between five percent in and eight percent is like five hundred dollars per month or one hundred eighty thousand dollars over the life of the loan. Is that right? That can happen can it?" Bob asked with a hint of panic. Well interest rates have always flctuated. In the eighties they were between 10 and 16 percent. They settle down in the nineties around 10 percent. So that should give you an appreciation of our current interest rates will they go '