You can calculate the mortgage loan amount from the price of the real estate by providing the down payment
If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate
the affordable real estate price.
Or if you know the price of the real estate and the loan amout and enter "0" for the down payment
percentage, the calculator will calculate the down payment amount and percentage.
Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter
values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance
are combined under escrow.
If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the
borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are
typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the
mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically.
(There may be other conditions as well under which the lender will no longer require PMI. One such case might be
apprciation of the real estate.)
Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a
lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and
are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points,
this calculator includes their value in the summary and as part of the total payment at loan origination on the
The term (duration) of the loan is expressed as a number of months.
60 months = 5 years
120 months = 10 years
180 months = 15 years
240 months = 20 years
360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and
the ability to print an amortization schedule? Please visit,
Currency and Date Conventions
All calculators will remember your choice. You may also
change it at any
"Save changes" will cause the calculator to reload. Your
edits will be