Principal and Interest Calculator

Description

Found your dream home? Perhaps you've narrowed your choices down to two or three homes. Use this calculator to determine what your monthly payments might be for the homes you are considering.

When to Use

  • Buying a new home
  • Considering re-financing your current home
  • You wish to pay off a loan early
  • Thinking about trading up

What information you will need

  • Information about your current or perspective new homes
  • Copy of property taxes paid
  • Home insurance premium amounts
  • Loan statements
  • Mortgage statements

Note: You do not need to have all this information to use the tool, but the more you have available, the more accurate the calculation.

Date:
Property Address:
Name:
 
Interest Rate: (Enter 7¾% as 7.75)
Compounding Period:
Term in years:
Loan Amount:
1st Payment Date: (Enter as mm/dd/yyyy)

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.