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Mortgage Calculator

This calculator calculates monthly mortgage payments based on principal, interest and term. Mortgages are compounded monthly. This calculator is intended to give you an idea what your monthly payments might look like. The default values do not reflect a specific loan offer and you should change them to suit your purposes. Interest rates vary and for the most accurate information on what your rates might be, please contact a loan officer by email or by calling 800-287-0752.

Amortization (Years) =
Term* (Years) =
Yearly Interest Rate (%) =
Principal Amount ($) =
Downpayment** (%) =
Downpayment Required ($) =
Mortgage Principal ($) =
Monthly Payment*** ($) =
Still Owing at End of Term ($) =
Please note:
* Term should be the same as the length of Amortization, unless you plan for a balloon payment.
** Downpayments of less than 20 percent may require mortgage insurance. If that is the case, your actual payment will be higher.
*** Principal and interest only.

Calculator courtesy of InfoHiway, Inc.(Copyright 1998)