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: Monthly Daily Term in years: Loan Amount: 1st Payment Date: (Enter as mm/dd/yyyy)