This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home’s sale price, the term of the loan desired, buyer’s down payment percentage, and the loan’s interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Of course, current rates and your personal financial profile will determine the details of your individual mortgage. This mortgage calculator is simply a tool to help you estimate your mortgage payment.
For more information about mortgage options, visit our Home Buyer Resources page or contact our in-house mortgage consultant, Mike Pogue with Movement Mortgage. Simply call our office at 803-504-1111.