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Mortgage Calculator

Below is our mortgage calculator which can help you determine your approximate monthly payments. To calculate monthly payment, fill out the form and click "Calculate".

Mortgage Loan Calculator Results
Your payment is MONTHLY_PITI for TERM years with a rate of INTEREST_RATE.
Mortgage Summary
Loan amountLOAN_AMOUNT
TermTERM years
Interest rateINTEREST_RATE
Annual home insuranceYEARLY_HOME_INSURANCE
Annual property taxesYEARLY_PROPERTY_TAXES
Monthly paymentMONTHLY_PI
Monthly payment (PITI)*MONTHLY_PITI
Total principal and interest paymentsTOTAL_OF_PAYMENTS
Total interestINTEREST_PAID

*Principal, Interest, Taxes and insurance

Prepayment Results
Principal prepayments on your mortgage can save you a great deal of interest. They can also shorten the time it takes to pay off your mortgage, in many cases, by several years. PREPAY_MESSAGE
Prepayment Summary
AmountPREPAY_AMOUNT PREPAY_TYPE
Start with paymentPREPAY_STARTS_WITH 
Total paymentsPREPAY_TOTAL_OF_PAYMENTS 
Total interestPREPAY_INTEREST_PAID 
Interest savingsPREPAY_INTEREST_SAVINGS 
Payment schedule
**REPEATING GROUP**

Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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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 interest - Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type - The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.

Prepayment amount - Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment - This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.

Savings - Total amount of interest you will save by prepaying your mortgage.


Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.


Paine Properties Real Estates Sales and Consulting merged with RE/MAX Acclaimed Properties on March 1, 2008. RE/MAX Acclaimed Properties is a full service Real Estate company offering professional services to meet all your needs for Bloomington, Ellettsville, Monroe County, and Indiana University real estate. Call us to buy or sell homes or houses in Bloomington, Indiana, homes or houses for sale in Ellettsville, Indiana, buy or sell homes or houses at Indiana University Bloomington, retirement homes, Lake Monroe homes for sale, Indiana University relocation, Bloomington Indiana relocation and Ellettsville Indiana relocation. Call RE/MAX Acclaimed Properties when looking for a Bloomington Indiana Realtor, Ellettsville Indiana Realtor, Indiana University Realtor, or a Bloomington, Indiana retirement housing Realtor. RE/MAX Acclaimed Properties specializes in residential real estate, commercial real estate, relocation to Bloomington, relocation to Ellettsville, and relocation to Indiana University. Let RE/MAX Acclaimed Properties be your broker or agent for Real Estate listings and needs for Bloomington, Ellettsville and Indiana University.