LoanCalculators.net

HOME LOAN CALCULATOR

Loan Amount:
Full amount of your home loan.

Loan Term (years):
The number of years the loan is scheduled to be paid over.

Interest Rate (%):
This is the quoted APR a bank charges the borrower.

Property Tax (%):
This is the local rate home owners are charged to pay for various municipal expenses. Those who rent ultimately pay this expense as part of their rent as it is reflected in their rental price. One can't simply look at the old property tax payment on a home to determine what they will be on a forward basis, as the assessed value of the home & the effective rate may chage over time.

PMI (%):
Property Mortgage Insurance policies insure the lender gets paid if the borrower does not repay the loan. PMI is only required on conventional mortgages if they have a Loan-to-value (LTV) above 80%. Some home buyers take out a second mortgage to use as part of their downpayment on the first loan to help bypass PMI requirements.

HOA ($/year):
Home Owner's Association dues are common in condos & other shared-property communities. They cover routine maintenance of the building along with structural issues. Be aware that depending on build quality HOA fees can rise significantly 10 to 15 years after a structure is built, as any issues with build quality begin to emerge.

Insurance ($/year):
Most homeowner policies cover things like loss of use, personal property within the home, dwelling & structural damage & liability. Typically earthquakes & floods are excluded due to the geographic concentration of damage which would often bankrupt local insurance providers.



Principal:
Interest:
Property Tax:
PMI:
HOA:
Insurance:
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Monthly Payment:

Disclaimer: All information on this website is provided on an as-is basis. No liability will be accepted for the outcome.
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