Mortgage Calculator

	Purchase price: $ Down payment: % Mortgage term: years Interest rate: % Property tax: $ per year Property insurance: $ per year PMI: % First payment date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Loan amount: $ Loan term: years Interest rate: % First payment date: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Using The Mortgage Calculator

The Mortgage Calculator located on the sidebar allows you to run amortized Principal and Interest Payments.  There are two tabs at the top.  

The “Mortgage” Tab allows you to enter extra variables such as purchase price, downpayment percentage, property taxes, Insurance, and Mortgage Insurance.  The Mortgage Tab allows you to run Principal and Interest Payment including your Taxes and Insurance (PITI).  PITI is lender lingo for Principal, Interest, Taxes, and Insurance.

The “Loan” Tab allows you to enter Loan Amount, Rate and Loan Term so you can run simple Principal and Interest (P&I) payments.

Use the Following Approximate Mortgage Insurance (PMI) Rates when Calculating PITI with the Calculator.  Mortgage Insurance rates vary depending upon the Loan To Value (LTV) of the mortgage. For a refinance your LTV would be the proposed loan amount divided by the appraised value.  Conventional loans with 20% down or greater or 80%LTV or lower do not require additional Mortgage Insurance.

Mortgage Insurance Rates 

FHA Mortgage .55% (All LTVs)

3% down (97% LTV)   1.10%

5% down (95% LTV)   .94%

10% down (90% LTV) .62%

15% down (85% LTV) .38%

20% down (80% LTV or better) Enter 0% for Mortgage Insurance.