Mortgage Payment Calculator

Mortgage Payment Calculator FAQ'S

Our mortgage calculator (unlike Property Valuations), ls is just a “fancy calculator” ready for you to input real numbers and get exact results. So it is without a doubt as accurate as the numbers you enter.

Just enter the total amount paid (or to be paid), down payment, interest rate, loan terms, property tax, home insurance, PMI. Click “calculate” and That’s it!

Total amount refers to the whole number you paid or will pay on a property. (overall)

A down payment is the amount of money a buyer is paying upfront for a property, and generally financing the rest.

Firstly an interest rate is basically the cost of borrowing the money for the purchase of your property. 

Secondly, it is usually expressed as a yearly percentage that is paid as part of your monthly loan payment.

This is the number of months you will be making the agreed mortgage payments overall. However, this can change indeed, depending on refinancing your home, make bigger payments, etc…

This is the amount of money a person has to pay for owning real estate, and it is usually based on assed value of the property.

For example, if the property tax is 5% and your property’s assessed value is $300,000, then your property tax equals $15,000.  (0.05 x 300,000).

Is a type of property insurance that provides coverage from the loss or damage caused to the property structure as well as content/items.

Stands for Private Mortgage Insurance, and first thing to remember is that you might be required to pay for it particularly if you have a conventional loan.

It is important to realize, this protects the lender “not you” if you stop making your loan payments.

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