Purchase price – This is total sales price of your new home in whole dollars. This amount, less any down payment, will be the amount you borrow from your bank.
Down payment – Enter the percentage of the Purchase price that you plan to pay upfront. If, for example, you plan to make a £25,000 down payment on a £250,000 home, enter 10 here.
Mortgage term – Determine the number of years over which you'd like to pay your mortgage and enter it here. Common values are 10, 15, and 25.
Interest rate – Enter the actual interest percentage your bank will apply to the amount you borrow. Do not include any Private Mortgage Insurance (PMI) percentages your bank may require.
First payment date – From these drop-down menus, select the month and year that your mortgage payments will begin.
Amortization – Choose whether you'd like to see your mortgage payment schedule, including principal, interest, tax, insurance, PMI, and balance, on a yearly or monthly basis. If you don't want to see a detailed amortization schedule, choose don't show.
Down payment – Enter the percentage of the Purchase price that you plan to pay upfront. If, for example, you plan to make a £25,000 down payment on a £250,000 home, enter 10 here.
Mortgage term – Determine the number of years over which you'd like to pay your mortgage and enter it here. Common values are 10, 15, and 25.
Interest rate – Enter the actual interest percentage your bank will apply to the amount you borrow. Do not include any Private Mortgage Insurance (PMI) percentages your bank may require.
First payment date – From these drop-down menus, select the month and year that your mortgage payments will begin.
Amortization – Choose whether you'd like to see your mortgage payment schedule, including principal, interest, tax, insurance, PMI, and balance, on a yearly or monthly basis. If you don't want to see a detailed amortization schedule, choose don't show.