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Tom Vesolich
RE/MAX Allegiance
"each
office
independently
owned"
Licensed in Virginia
&
Maryland
Monthly
Mortgage Payments
Below is a calculator which you can use to determine what your monthly mortgage payment would be for a home loan.
1. In the first column enter
the number of months for the life of the loan. This will typically be 360 months (30
years).
2. Next add the interest rate you are considering for the loan. If the rate is 7% for
example, just type in a 7. If it is 7.5%, type in 7.5. For an idea of what the current
rates are check here.
3. And finally, enter how much the loan amount will be.
4. Hit the Click Here to Compute Payment and Cost bar and
the monthly payment amount will appear. This calculator also computes what the total
interest payment will be for the life of the loan. If you want to do additional
calculations just hit the Click Here to Reset button.
Keep in mind that the results only give you what the total principal and interest part of what you mortgage payment will be. To this you must add one twelfth of the yearly taxes and one twelfth of the yearly home owner insurance payment. This then gives you your total monthly mortgage payment. If you need any help computing what the possible taxes and insurance might be, I can provide that information. It varies based on which part of the area you are looking to purchase.
© 1998 Tom Vesolich, All Rights Reserved
Licensed in Virginia & Maryland
703
569-3939