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Mortgage Calculator

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This Financial Calculator requires a Browser with Java Support
 Price of home: Purchase price of the home you wish to buy.
 Cash on hand: Cash you have for the down payment and closing costs.
 Interest rate: The current interest rate you can receive on your mortgage.
 Term in years: The number of years over which you will repay this loan.
 Property tax rate: Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.
 Home insurance rate: Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.
 Loan origination rate: The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.
 Points paid: The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.
 Other closing costs: Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other misc. fees paid.
 Total closing costs: Total up front costs to close your loan. This is the sum of the loan origination fee, amount paid for points and other closing costs.
 Total for down payment: Total funds remaining for down payment.
 Loan amount: Total amount of loan.
 Investment return: Annual percentage return you would receive if you invested your closing costs and down payment instead of purchasing a home.
 Monthly rent payment: Amount you currently pay for rent per month.
 Expected inflation rate: Inflation rate used to adjust amounts subject to annual increases. This includes rent, insurance and property tax payments.
 Home appreciates at: Annual appreciation you expect in the home you are purchasing.
 Home sales commission: The percent of your homes selling price you expect to pay to a broker or real estate agent when you sell your home.
 House payment: Total of principal, interest, property taxes and insurance paid per month for your home. Insurance includes PMI and homeowner.
 Principal payment: Total of principal paid per month on your mortgage.
 Net house payment: Your house payment minus the value of the tax deduction and principal payment.
 Net home price: Net selling price of your home after subtracting any sales commissions.
 Monthly PI: Monthly principal and interest payment.
 Monthly PMI: Monthly cost of Principal Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year.