Enter 4 values below
How does the Mortgage Calculator work?
Free Mortgage Calculator - Calculates the monthly payment, APY%, total value of payments, principal/interest/balance at a given time as well as an amortization table on a standard or interest only home or car loan with fixed interest rate. Handles amortized loans.
This calculator has 4 inputs.
This calculator has 4 inputs.
What 2 formulas are used for the Mortgage Calculator?
Monthly Payment = Loan Amt * APR/(1 - (1/(1 + APR))n)
What 4 concepts are covered in the Mortgage Calculator?
- interest
- payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate
- loan
- a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
- mortgage
- an agreement between you and a lender that allows you to borrow money to purchase or refinance a home and gives the lender the right to take your property if you fail to repay the money you have borrowed.
- principal
- The amount borrowed on a loan, before interest is charged
