Inputs

Tip: Inputs 1 through 4 can be calculated for a single missing value.

1. Mortgage Amount ($) Help? Help for: Mortgage Amount
Enter the amount of money you want to borrow. Do not enter a dollar sign.You can calculate the maximum mortgage amount you qualify for (based on income and debt) by using the Maximum Mortgage calculator, located in the "Mortgage Calculator" section.
Minimum: $10,000
Maximum: $1,000,000

2. Interest Rate (%) Help? Help for: Interest Rate
Enter the interest rate you would like to use for calculating your payment and amortization schedule.Enter the interest rate in a whole number format. For example: 4.56 NOT .0456
Minimum: 2.0
Maximum: 25.0

3. Initial Amortization Period Help? Help for: Amortization Period
Enter a number representing over how many years you would like to repay your mortgage. The standard is 25 years.
Minimum: 1 Year
Maximum: 40 Years

years
months

4. Initial Mortgage Payment ($) Help? Help for: Mortgage Payment
The mortgage payment is the amount the borrower would finance in order to pay off the desired loan. The payment corresponds to the selected frequency.
Minimum: $1.00

5. Payment Frequency Help? Help for: Payment Frequency
Select how often you would like to make your mortgage payments.
Number of payments per year:
Monthly: 12 (once a month)
Semi-Monthly: 24 (twice a month)
Bi-Weekly: 26 (once every two weeks)
Weekly: 52 (once a week)

Accelerated:

6. Lump Sum Payment ($ Annually) Help? Help for: Annual Prepayment
The amount of principal you are allowed to pay off every year without paying a penalty to the lender. Usually expressed as a percentage of the original mortgage balance.
Minimum: 0% or $0
Maximum: 100% or $ (Mortgage Amount Entered)

for years

7. Mortgage Payment Increase Help? Help for: Annual Prepayment
The amount of principal you are allowed to pay off every year without paying a penalty to the lender. Usually expressed as a percentage of the original mortgage balance.
Minimum: 0% or $0
Maximum: 100% or $ (Mortgage Amount Entered)


Period:
years

Results

Revised Amortization Period Years Months

This also represents a savings of $ in interest.

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