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Monthly mortgage calculator
Use anyone of these 4 monthly mortgage
calculators. |
Monthly mortgage calculatorMortgageWhen you are looking for a mortgage, you basically are looking to borrow some money. The twist here, is that your house or your property is what warranties the loan. Therefore, when you calculate your mortgage with a monthly mortgage calculator, you are calculating how much you can borrow on your house (or the house you wish to buy)!
Mortgage amount or principalThe total dollar amount of money you have to borrow for
your mortgage.
Interest rateThe interest rate on the mortgage. It is calculated in different ways, but the most common one is monthly. You will also need this number in order to use the monthly mortgage calculator.
Mortgage amortizationThe number of years over which you would repay your mortgage loan if you made your normal monthly payments. The most common terms for mortgages are 15 years, 25 years and 30 years. You will need this third number as input for this monthly mortgage calculator.
Mortgage termIn Canada, this is the number of years your mortgage contract lasts. For Canadians, the mortgage term is different from the mortgage amortization. They will usually have a 25 year amortization period, but the mortgage contract is renegotiable after 1, 2, 3 or 5 years.
Monthly mortgage calculatorA monthly mortgage calculator simply calculates your mortgage payments
Javascript mortgage calculationsJavascript mortgage calculations are done with the Javascript language. To do the calculations, a JavaScript mortgage script is used. The Javascript mortgage script is usually placed in the head section of the web page. It's simply a javascript function that computes the required answer based on the user's input. The general mortgage formula used to calculate mortgage payments is:
Click here for the monthly mortgage calculator page.
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