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Calculate your mortgage payment. Create an amortization schedule. Discover what you will owe in 5 years.
Fill in the blanks below. Click the "Calculate" button when you are finished.
If you require assistance, select the button.
Mortgage Term: <h3>Mortgage Term</h3> <p>The term of a mortgage is the length of time before it comes due for renewal, and for which the interest rate is either fixed or floating. The term will be used in creating the amortization schedule, and calculating the balances.</p> <p>You cannot select a term which is greater than the amortization period you enter. </p>
Payment Frequency: <h3>Payment Frequency</h3> <p>Select how often you would like to make your mortgage payments.</p> <p>Number of payments per year: <table width=300 border=0 cellpadding=5> <tr> <td>Monthly:</td><td>12 (once a month)</td> </tr> <tr> <td>Semi-Monthly:</td><td>24 (twice a month)</td> </tr> <tr> <td>Bi-Weekly:</td><td>26 (once every two weeks)</td> </tr> <tr> <td>Weekly:</td><td>52 (once a week)</td> </tr> </table> </p>
Amortization Period(in years): <h3>Amortization Period</h3> <p>Enter a number representing over how many years you would like to repay your mortgage. The standard is 25 years.</p> <div>Minimum: 1 Year</div><div>Maximum: 40 Years</div>
Mortgage Amount: <h3>Mortgage Amount</h3> <p>Enter the amount of money you want to borrow. Do not enter a dollar sign.</p> <p>You can calculate the maximum mortgage amount you qualify for (based on income and debt) by using the <a href='MaximumMTG.php'>Maximum Mortgage calculator</a>, located in the Mortgage Calculator section.</p> <div>Minimum: $10,000</div><div>Maximum: $1,000,000 </div>
Interest Rate: (view rates) <h3>Interest Rate</h3> <p>Enter the interest rate you would like to use for calculating your payment and amortization schedule. Enter the interest rate in a whole number format. For example: 4.56 NOT .0456</p> <div>Minimum: 2.0</div><div>Maximum: 25.0</div>
Information is provided for sample purposes only. MortgageBrokers.com does not guarantee its accuracy. Information should be verified and should not be relied upon as legal, financial, or other advice.

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