This Mortgage Calculator is unique among the financial calculators found elsewhere. It has the ability to solve for two unknowns at a time allowing you to calculate, for example, both the payment amount and the affordable house price. More below...»
You can use this calculator to answer such questions as:
Unlike our general loan or simple loan calculators, this calculator will allow you to have more than one unknown value in certain cases.
To indicate an unknown value, enter '0' (zero).
You can enter the price of the real estate, the down payment percent you need, the total number of periods for which you want to borrow the money and the interest rate. When you click on "Calc", the amount of the loan and the monthly payment will be calculated.
If you enter the loan amount and "0" for the down payment percentage, then the down payment percentage (and down payment amount) will be calculated.
If you enter "0" for the price, a down payment percentage, "0" for the amount of loan, the total periods, the interest rate and the payment you can afford, the calculator will calculate the loan amount and the price you can afford to pay. You can use this calculation to tell you what you can afford to pay and borrow and still stay within a budget.
Auto Loan Calculator. It also accepts six inputs, but it asks for an amount for the down payment rather than a percentage.You may also like the
This Mortgage Calculator is not limited to solving mortgage loan problems of course. It can be a useful tool whenever money is borrowed to purchase an asset and the down payments is expressed as a percent.