Loan Amortization Calculator
This calculator will help you determine the approximate monthly payment of your loan after the interest rate is applied. First enter the Loan Amount or the amount of money you are borrowing, not including any down payment funds or closing costs. Second, enter the length of your mortgage in terms of Number of monthly Payments. Typical house mortgages are 15 years (180 months) or 30 years (360 months). Finally, enter the Annual Interest Rate. Current interest rates can be found at www.bankrate.com or other local banks or mortgage lender web sites.
Remember, this calculator only estimates the approximate monthly mortgage payment. It does not include the property taxes, homeowner's insurance, or utilities.