Check out my preferred Lenders for
Mortgage Assistance!
Mortgage Loan Payment
Calculator Instructions
This generic mortgage calculator will give
you a good idea of what your payment will be on a
home purchase. I recommend you speak with a qualified
mortgage lender to get accurate details for a
mortgage loan. This calculator should be used
for estimating only.
Subtract the estimated down payment from the
property price and enter the value in "Loan Amount"
(Remember - a down payment less than
20% of the sale price will require added expense
of Mortgage Insurance which is not included in
this calculation.)
Enter the current interest rate. Contact one
of my preferred Mortgage Lenders
for a rate!
Estimate Annual Tax and Insurance and enter
values.
Test the effect of different loan periods -
try alternatives to the default of "30" years.
Each time you change a value hit "Calculate
Now" to see the effect is.
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- Margaret Wojcicki - Managing Broker
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of the National Association of REALTORS®