Mortgage Payment Calculator w/Amortization This calculator will compute a mortgage's monthly payment amount based on the principal amount borrowed, the length of the loan and the annual interest rate. This calculator will also compute your total mortgage payment which will include your property tax, property insurance and PMI payments. Then, once you have computed the monthly payment, click on the "Create Amortization Schedule" button to create a report you can print out. Mortgage loan amount: Explain/Instruct Annual interest rate (APR): Mortgage loan term (# years): Annual real estate taxes: Annual homeowners insurance: Monthly PMI (Private Mortgage Insurance): Monthly Principal and Interest Payment: Explain/Instruct Monthly Taxes, Insurance and PMI payment: Total monthly mortgage payment:
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Do a cost benefit analysis to determine whether or not it is cheaper for you to rent or purchase a home and print out your individualized report.
You can get a good estimate of a monthly payment by using the expected monthly loan payment on a \$1,000 loan as the base.  To use the table below: Locate the amount that corresponds to both the interest rate and number of months the loan is to be repaid (use the nearest interest rate).  Multiple that amount by the amount of the loan in thousands to get a close estimate of the monthly payment.  Example: A \$30,000 car loan with a 5% interest rate for 48 months:  \$23.08 x 30 [30 = \$30,000/1000] = a \$692.40 monthly payment.
Interest
Rate

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
12
Mths.

\$83.33
\$83.79
\$84.25
\$84.71
\$85.17
\$85.63
\$86.09
\$86.55
\$87.01
\$87.47
\$87.92
\$88.39
\$88.85
\$89.32
\$89.79
\$90.26
\$90.74
\$91.21
\$91.68
\$92.15
\$92.62
\$93.09

24
Mths.

\$41.67
\$42.12
\$42.57
\$43.02
\$43.47
\$43.92
\$44.37
\$44.82
\$45.27
\$45.72
\$46.15
\$46.41
\$47.08
\$47.55
\$48.02
\$48.49
\$48.97
\$49.45
\$49.93
\$50.41
\$50.89
\$51.37

36
Mths.

\$27.78
\$28.23
\$28.68
\$29.13
\$29.58
\$30.03
\$30.48
\$30.93
\$31.38
\$31.83
\$32.27
\$32.74
\$33.22
\$33.70
\$34.18
\$34.67
\$35.16
\$35.66
\$36.16
\$36.66
\$37.16
\$37.66
48
Mths.

\$20.83
\$21.28
\$21.73
\$22.18
\$22.63
\$23.08
\$23.54
\$24.00
\$24.46
\$24.92
\$25.37
\$25.85
\$26.34
\$26.83
\$27.33
\$27.84
\$28.35
\$28.86
\$29.38
\$29.90
\$30.42
\$30.92

60
Mths.

\$16.67
\$17.12
\$17.57
\$18.03
\$19.49
\$18.95
\$19.41
\$19.87
\$20.33
\$20.79
\$21.25
\$21.75
\$22.25
\$22.76
\$23.27
\$23.79
\$24.32
\$24.86
\$25.40
\$25.94
\$26.48
\$27.02

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