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A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
The name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.
The sale price for your property. (NOT the amount of money you plan to borrow.)
The amount of money you plan to put as a down payment on your property.
The annual percentage rate you will pay for this loan.
The length of your balloon mortgage or loan. Your balance or 'Balloon Payment Amount' will be due at this time. Also choose whether 'Length of Balloon Period' is years or months.
The monthly payment and interest are calculated as if the mortgage or loan were being paid over this length. Also choose whether 'Length of Amortized Interest' is years or months.
The additional amount you will pay each month (over the required 'Monthly Payment' amount) to pay down the principal on your loan.
The number of points (or percentage of the loan amount) you'll be paying to close this loan. Check 'Roll into Loan' if the cost of the loan points is being financed and included in the 'Loan Amount'.
Should be checked if the 'Points' are to be included in the loan as opposed to paid at closing.
Any other costs you'll be paying during the closing of your loan. These might be costs like the appraisal, property taxes, property insurance, title insurance, realtor fees, etc. Check 'Roll into Loan' if your closing costs (not to include loan points) is being financed and included in the 'Loan Amount'.
Should be checked if the 'Other Closing Costs' are to be included in the loan as opposed to paid at closing.
'Principal' + 'Interest' + 'Additional Principal' (where applicable) to be paid each month. Actual payment could include escrow for insurance and property taxes plus private mortgage insurance (PMI).
'Sale Price' - 'Down Payment' + 'Points' (if rolled into loan) + 'Other Closing Costs' (if rolled into loan).
Total amount of interest you will pay over 'Length of Loan'.
Total amount of principal + interest you will pay over 'Length of Loan'.
Amount of time until the loan is paid off.
The amount due at the end of 'Length of Balloon Period'.
The number of payments you will make to pay off the loan.
The amount of money you will pay each year for this loan.
The points percentage applied to the amount you borrow gives the dollar amount the loan points will cost.
Total cost of this property when you include the 'Sale Price', 'Points Amount', 'Other Closing Costs' and the 'Total Interest' to be paid on the mortgage.
When checked, a section will appear below the calculator showing the complete amortization table.