Mortgage Calculator Help
Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you'll pay over the life of your mortgage. To use this calculator, you'll need the following information:
If you're getting a mortgage to buy a new property, you can find this number by subtracting your down payment from the property's price. If you're refinancing, this number will be the outstanding balance on your mortgage.
Mortgage Term (Years)
This is the length of the mortgage you're considering. For example, if you're buying new, you may choose a mortgage loan that lasts 30 years. On the other hand, a purchaser who is refinancing may opt for a loan that lasts 15 years.
Estimate the interest rate on a new mortgage by checking our apartment loan rates. Once you have a projected rate (your real-life rate may be different depending on your overall credit picture) you can plug it into the calculator.
Here is another commercial mortgage calculator hosted by www.bankrate.com to estimate monthly payments on your commercial loan.