Commercial Mortgage Loan Calculator, House Loan Calculator USA

Mortgage Loan Calculator

Price of Real Estate?:

Down Payment Percent?:

Amount of Loan?:

Enter a "0" (zero) for one unknown value above.

Number of Payments? (#):

Annual Interest Rate?:

Points?:

Annual Property Taxes?:

Annual Insurance?:

Private Mortgage Ins. (PMI)?:

Payment Method?:

Monthly Payment Amount:

Down Payment Amount:

Total Interest:

Total Principal & Interest:

Original Size

Mortgage Calculator Help

You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.

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 payment schedule.

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, https://AccurateCalculators.com/mortgage-calculator

How to Use the Mortgage Loan Calculator

Whether you’re looking for a house or commercial mortgage loan calculator, a mortgage budget calculator, or a mortgage borrowing calculator, our comprehensive tool can help you understand the costs associated with your mortgage. This guide will walk you through using our versatile mortgage calculator for various scenarios.

Inputs of the Calculator

Our mortgage loan calculator, which functions as a commercial mortgage loan calculator, a mortgage budget calculator, or a mortgage borrowing calculator, all in one, requires the following inputs:

Price of Real Estate: Enter the total price of the property you want to purchase, whether a house or commercial property.
Down Payment Percent: Enter the percentage of the property price you plan to pay upfront. The mortgage budget calculator uses this to determine your initial costs.
Amount of Loan: Enter the amount you need to borrow.
Number of Payments: Enter the total number of monthly payments for the loan term (e.g., 360 for a 30-year mortgage).
Annual Interest Rate: Enter the annual interest rate of the mortgage loan.
Points: Enter the number of points you’re paying on the loan (1 point equals 1% of the loan amount).
Annual Property Taxes: Enter the estimated annual property tax amount. This is particularly important for the mortgage budget calculator function.
Annual Insurance: Enter the estimated annual homeowners insurance premium.
Private Mortgage Insurance (PMI): Enter the annual PMI amount, if applicable. The mortgage borrowing calculator takes this into account for a complete cost picture.
Payment Method: Select whether payments will be made at the end of the period or at the start of the period.

Important: one of the following fields must be set to “0”: “Price of Real Estate,” “Down Payment Percent,” or “Amount of Loan”. This flexibility allows the calculator to determine the missing value based on the other inputs.

After entering all the required information, click the “Calc” button to use the mortgage loan calculator’s full functionality.

Outputs of the Calculator

Our mortgage calculator provides these key outputs:

Monthly Payment Amount: This is your total monthly payment, including principal, interest, taxes, and insurance (PITI).
Down Payment Amount: The actual dollar amount of your down payment based on the percentage entered.
Total Interest: The total interest paid over the life of the loan.
Total Principal & Interest: The sum of the loan principal and total interest paid.

Understanding the Outputs

Monthly Payment Amount:
- This value, crucial for the mortgage budget calculator function, represents the amount you will pay each month, including principal, interest, property taxes, insurance, and PMI (if applicable).
Down Payment Amount:
- This is the dollar amount you’ll need to pay upfront, an important consideration in the mortgage borrowing calculator calculations.
Total Interest:
- This value shows the total interest you will pay over the life of the loan, a key output of the commercial mortgage loan calculator function.
Total Principal & Interest:
- This is the total amount you will pay towards the loan principal and interest over the entire loan term, excluding taxes and insurance.

By using this comprehensive tool as a commercial / house mortgage loan calculator, a mortgage budget calculator, or a mortgage borrowing calculator, you can gain a thorough understanding of the financial implications of your mortgage, helping you make informed decisions about your mortgage options.

Remember, while our mortgage loan calculator is a powerful tool for estimating costs, it’s always advisable to consult with a financial professional for personalized advice tailored to your specific situation.

Additional Features

Payment Schedule:
- The calculator generates a detailed amortization schedule showing date-based payments, principal, interest, and remaining balance over the loan term.

Charts:
- The calculator also creates visual charts to help you understand the breakdown of your payments over time, including how much goes towards principal and interest.