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This advanced Loan Calculator program calculates the
Monthly loan payment, Loan Amortization Table, Loan
Payoff Amount With Additional Payments
with many different options. Please note that this
calculator can be used for any types of financing
businesses such as car payment, house payment and other
loan payments. However, please note that for real estate
mortgage payments, other payments might be needed such
as HOA (Home Owner Association) fee, Mortgage insurance
(MIP or PMI) fees, Membership club fees, special Tax
assessments fees, etc.
Loan Amount:
is the final amount that lenders pay to close the deal.
This amount could be Purchase price + all closing costs
associated with the transactions (e.g., Tax, Insurance,
etc) Minus Amount of Down Payment.
Property Tax rate,
in %, is the amount of tax for each $100 of the
property's assessed value. So, for example, if a
property tax rate (city + county + school + college +
hospital tax rate) for each $100 value is 2.25% and the
property assessed value is $200,000, total property tax
in a year is ($200,000/$100) * $2.25 =$4500 per year.
Insurance rate,
in %, is the Annual premium divided by the total value
of the house. So, for example, if the insurance premium
for the above property is $800 per year, then you need
to put 0.4 in the mortgage calculate
($800/$200,000=0.4%).
Click
here
to see your total tax rate for your county
Click
here
to see your estimated closing cost
Click
here
to see your mortgage amortization table and also see
what happens if you make additional payments at
different times during the life of the loan.
Click
here
to see list of lenders and types of loan they offer
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