Mortgage Calculator with Amortization Schedule

FinMortgage Calculator stands apart from other web based mortgage calculators as it allows finding monthly payments with an easy to navigate slider bar couple that with a complete amortization schedule. You can see the running totals of paid principal amount and Interest.

I have been using TI BA II Plus for a while, there are times when I couldn't get a solution with TI just as when signs chnaged for cash inflows. FinEasy gets me the solution when I need it most - John Alvo ( Wachovia )

American Pie

Sooner or later, most of us will succumb to the "American dream" of owning a home. Yet, the interest rates, as well as high real estate prices in some areas, cause this to be an expensive dream. As the events in recent past has not made things any easier. The crisis in sub prime lending markets costed American dearly in terms of higher mortgage rates. It was common scene in many US states where individuals lost their homes. You will b e surprised to hear most of these sub lenders were from outside U.S. mostly banks in Western Europe.

Given a mortgage loan, many homeowners do not realize how the amount of their mortgage loan is calculated. The formula to do so is a variation of computing the present value of annuity is as follows, here we assume that the cash flow begins at the end of terms.

Mortgage Payment Formula

Mortgages Formula 1

Mortgage Payment Example

Mr. Smith pays $100,000 for a new home. A down payment of $30,000 leaves a mortgage of $70,000 with interest compounded at 10.5% per year compounded monthly. Determine the monthly mortgage payment if the loan is to be repaid over 20 years

Mortgage Payment Calculation

I searched the World Wide Web for an Mortgage Amortization Calculator and didn't find one that fit my requirements, FinEasy did the trick and at a fraction of price others were charging - Katie M ( Univ of Connecticut )