Mortgage Payment Calculator © 2008 Vertex42 LLC

Compound Period 12 Enter 12 for US mortgages and 2 for Canadian mortgages.

Mortgage Information Option #1 Option #2 Option #3 Option #4

` Sales Price 130,000.00 125,000 120,000 115,000
Loan Amount 125,450.00 120,625.00 115,800.00 110,975.00
Annual Interest Rate 5.500% 5.500% 5.500% 5.500%
Term of Loan (in Years) 30 30 30 30

PAYMENT
Monthly Interest Rate 0.458% 0.458% 0.458% 0.458%
Monthly Payment (PI) 712.29 684.90 657.50 630.10
Extra Monthly Payment
Total MONTHLY PAYMENT 712.29 684.90 657.50 630.10

TOTALS
Number of Payments 360.0 360.0 360.0 360.0
Number of Years to Payoff 30.0 30.0 30.0 30.0
Total Payments 256,425 246,562 236,700 226,837
Total INTEREST 130,975 125,937 120,900 115,862

BALANCE at Year … 1 1 1 1
Outstanding Balance 123,760 119,000 114,240 109,480
Interest Paid 6,858 6,594 6,330 6,066
Original Down Payment 10,000
EQUITY 11,690 1,625 1,560 1,495

Caution: Results are only estimates. Interest rates may vary, values may be
off due to rounding, and the calculator does not take into account fees, closing
costs, property tax, mortgage insurance, tax deductions, etc.
 © 2008 Vertex42 LLC
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ortgages.

Option #5
110,000
106,150.00
5.500%
30

0.458%
602.71

602.71

360.0
30.0
216,975
110,825

1
104,720
5,803

1,430
(Help )

Use this mortgage calculator to determine the monthly payment for different mortgages. See
how soon you could pay off your home by making extra payments. Calculate the equity in your
home after a specified number of years.

Caution: This calculator is only for educational purposes. The results are only estimates. The
calculator does not include rounding, fees, missed payments, property tax, mortgage insurance, and
other factors that may be important when making loan or home buying/selling decisions. Please
consult a qualified professional regarding financial decisions.

Compound Period
The number of times per year that the quoted annual interest rate is compounded. US mortgage
rates are quoted based on a monthly compound period (enter 12 for US mortgages). Canadian
mortgage rates are quoted based on a semi-annual compound period (enter 2 for Canadian
mortgages).
Loan Amount
This is the amount that you have borrowed. You can also enter your current balance, if you also
adjust the Term of Loan to be the number of years left to pay off the mortgage.
Annual Interest Rate
This is the rate that is usually quoted by the lender. This calculator assumes a fixed annual interest
rate. See the note under "Compound Period".
Term of Loan (in Years)
The total number of years it will take to pay off the mortgage. Mortgages usually have 15 or 30-year
terms. If you enter your current mortgage balance in the Loan Amount, then enter the number of
years you have left on your mortgage. You can enter a formula to a specify the number of months.
For example, to enter "10 years + 3 months", enter the following formula: =10+3/12

For Canadian mortgages, the definition of "Term" is different, so for Canadian mortgages you may
want to change this label to "Amortization Period".
Monthly Interest Rate
The monthly interest rate is calculated from the annual interest rate and the compound period.

Monthly Mortgage Payment (PI)

Consists of both principal (P) and interest (I). Derived from the amount borrowed, the term of the loan, and the
mortgage interest rate.
Extra Monthly Payment
The extra amount you want to pay towards the principal each month (a regularly scheduled prepayment). This
assumes no penalties for making prepayments.
Mortgage Payment Calculator

Compound Period 12 Enter 12 for US mortgages and 2 for Canadian mortgages.

Mortgage Information Option #1 Option #2 Option #3

` Sales Price 130,000.00 125,000.00 120,000.00
Base Loan Amount 125,450.00 120,625.00 115,800.00
UMIP (FINANCED) 2,195.38 2,110.94 2,026.50
Total Loan Amount 127,645.38 122,735.94 117,826.50
Annual Interest Rate 5.500% 5.500% 5.500%
Term of Loan (in Years) 30 30 30

PAYMENT
Monthly Interest Rate 0.458% 0.458% 0.458%
Monthly Payment (PI) 724.76 696.88 669.01
MIP 36.59 35.18 33.78
Property Taxes 135.42 130.21 125.00
Hazard Insurance 37.23 35.80 34.37

PITI #NAME? #NAME? #NAME?

 © 2008 Vertex42 LLC
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nadian mortgages.

Option #4 Option #5
115,000.00 110,000.00
110,975.00 106,150.00
1,942.06 1,857.63
112,917.06 108,007.63
5.500% 5.500%
30 30

0.458% 0.458%
641.13 613.26
32.37 30.96
119.79 114.58
32.93 31.50

#NAME? #NAME?
 FHA - Home Buyer Calculator
Entering sales price triggers calculation for remaining fields in column

12

Sales Price A B C
` Sales Price 400,000.00 390,000.00 380,000.00
Base Loan Amount 386,000.00 376,350.00 366,700.00
UMIP (FINANCED) 6,755.00 6,586.13 6,417.25
Total Loan Amount 392,755.00 382,936.13 373,117.25
Annual Interest Rate 5.500% 5.500% 5.500%
Term of Loan (in Years) 30 30 30

PAYMENT
Monthly Interest Rate 0.458% 0.458% 0.458%
Monthly Payment (PI) 2,230.02 2,174.27 2,118.52
MIP 176.92 172.49 168.07
Property Taxes 416.67 406.25 395.83
Hazard Insurance 114.55 111.69 108.83

PITI #NAME? #NAME? #NAME?

D E
370,000.00 360,000.00
357,050.00 347,400.00
6,248.38 6,079.50
363,298.38 353,479.50
5.500% 5.500%
30 30

0.458% 0.458%
2,062.77 2,007.02
163.65 159.23
385.42 375.00
105.96 103.10

#NAME? #NAME?