With this interest calculator, you can find out just how much a new house would to cost you each month. You may find that purchasing a house or condo may be cheaper than renting! Enter values in the fields below to find out how much each monthly payment would be with the given number of payments, interest rate, and principal amount of the loan.
PHP Mortgage Calculator
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.
Try out different mortgage rates in the calculator to see how it can affect the payment amount.