| Calculators >> Mortgage
Loan Calculator
Use this calculator to generate an amortization schedule
for your current mortgage. Quickly see how much interest
you will pay, and your principal balances. This calculator
also allows you to enter your estimated insurance and property
taxes. Press the "View Report" button for a full yearly
or monthly amortization schedule.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate
for this mortgage.
- Term
in years
- The
number of
years over
which you
will repay
this loan.
The most
common mortgage
terms are
15 years
and 30 years.
- Monthly
payment
- Monthly
principal
and
interest
payment
(PI).
- Monthly
payment
(PITI)
- Monthly
payment
including
principal,
interest,
home
owners
insurance
and
property
taxes.
- Annual
property
taxes
- The
annual
amount
you
expect
to
pay
in
property
taxes.
This
amount
is
divided
by
12
to
determine
the
monthly
property
tax
included
in
PITI.
- Annual
home
insurance
- The
annual
amount
you
expect
to
pay
in
home
owners
insurance.
This
amount
is
divided
by
12
to
determine
the
monthly
home
owners
insurance
included
in
PITI.
- Total
payments
- Total
of
all
monthly
payments
over
the
full
term
of
the
mortgage.
This
total
payment
amount
assumes
that
there
are
no
prepayments
of
principal.
- Total
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