Mortgage Calculator

Use this mortgage calculator to determine some of the most important cost issues related to buying or selling your home.




Mortgage Calculator

Current property value

Enter the property value

Property cost

Down payment

Enter total down payment

Loan amount

Interest rate

Enter your interest rate

Fixed-rate loan term

Enter loan term

Payment

Monthly mortgage only payment

Down Payment Calculator

=

5% =

10% =

15% =

20% =

25% =

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Costs and Benefits of Ownership

Return on Initial Down Payment

Annual Return on DownPayment

*Please note you would have to subtract sales commissions/expenses.

Down Payment Opportunity Calculator

Alternate invest rate for down pmnt

Lost opportunity on Down Payment

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Benefits of Owning Versus Renting

Monthly rent saved

Enter the cost of renting a comparable home.

Annual rent saved

Yearly rent escalator

Enter the percentage by which rental costs rise annualy

Total rent saved

Deducting Interest

Total interest over years

Tax bracket

Enter your tax bracket

Tax savings on interest paid

Net cost of interest paid

Cost of interest paid (after taxes)

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Deducting Real Estate Taxes

Current real estate taxes

Enter the current real estate taxes for this property

Yearly tax escalator

Enter the percentage by which you expect taxes to rise each year

Total tax over term

Tax savings from RE taxes paid

This is the total tax paid multiplied by your tax bracket

Homeowner's Insurance

Annual cost of home owner's insurance

Cost of insurance over term

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Estimated Maintenance

Maintenance cost =

Per year calculated as a percentage of purchase price

Maintenance cost escalator

Enter annual maintenance costs increase

Total maintenance over term

Totals

Total of all Financial Gains

Total of appreciation, tax savings for interest and real estate taxes and rent saved.

Total of all expenses

Total of interest paid, RE taxes paid and maintenance.

Net Gain

Total projected financial benefit to purchasing the home specified.*

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© 2006, Estate of Mind, Inc.

DISCLAIMER : While every effort has been made to assure the accuracy of the mathematical calculations provided within this tool, Estate of Mind, Inc. makes no guarantee and maintains no liability for your use or reliance upon the results. All of the financial variables are freely changeable by the user. It is intended as a "what if" analysis as no one market can be expected to perform at a constant rate. In all likelihood, markets will vary from year to year. Actual results can and will differ accordingly.

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