calculator performs two functions:
1. It will generate values for a monthly payment, the total interest
paid and total payments made, over the life of a given mortgage.
2. It will also generate an amortization table for the values
entered. The calculations are for a fixed rate mortgage.
This calculator is believed to be accurate, but is only intended
to generate approximate results.
Enter the Full Sale Price, Percent Down, Interest Rate, and Number
of Payments, then either click on the CALCULATE or AMORTIZE button.
UPDATE CALCULATIONS button, will complete the fields
on this page with the Total Interest Paid and Total Payments Made
for the life of a mortgage.
FORMAT AND VIEW AMORTIZATION TABLE button will generate
an Amortization Table for the mortgage values entered in a NEW
window. To return to this page from the Amortization Table close
the window with the formatted view of the report.
TO AVOID ERROR MESSAGES AND MISLEADING RESULTS:
Enter NUMBER and DECIMAL characters only. Do not enter " $ ", " , " or " %
" characters. (Example: For a $100,000 home, enter 100000
or for 7.5% enter 7.5 or .075 )
To assure accurate results, this calculator evaluates your entry
when you attempt to move the cursor position from the text box
after making a change, by either clicking the mouse or pressing
the tab key. After establishing your entry as valid, it will update
all calculations possible and will then reselect the text box
with your new entry. You can then enter a new value or move to
the next field
Return to the calculator