How to calculate mortgage?
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- Use calculator to calculate the monthly interest/principal payment based on the amount of the loan.
- Determine how much is the annual property taxe, and divide this number by the number of payments.
- Determine how much is your homeowner’s insuranse annually cost and divide by the number of morgage payments.
- Find out about private mortgage insuranse (PMI) if you are going to pay it.
Add all these items, to calculated monthly interest/principal payment, insuranse, taxes and PMI - yours Home Equity Loan payment.
One Response to “How to calculate mortgage?”
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October 27th, 2007 at 10:22 pm
First thing you should use is mortage calculator, and calculate what amount you need.