To Calculate mortgage payments, three parameters are needed, namely, principal, interest and term. We can also reverse calculate with any one variable out of the other three.
In order to do so, simply enter a down payment amount or percentage and then allow the calculator to show you how large a mortgage you require.
Then, see how the monthly payment fluctuates when you factor in the additional monthly or annual loan costs such as PMI, HOA, taxes and insurance.
This calculator also supports Fixed and Adjustable Rate Mortgages (ARM) loans with up to five changes in interest rates. The interest-only mortgages loans are also supported.
So, you can pay off your mortgage early into the tenure period by means of extra payments. All you need to do is add one-off, monthly and annual extra payments.
You can choose up to ten additional extra payment amounts and payment periods to ease your burden. Then, the calculator will show how much money you can save on the loan.