Mortgage Loan Payment Calculator Instructions

This is a common loan calculator. If you've never used one like this, simply follow the instructions below.

1. Subtract your estimated down payment from the property price and enter the value in "Loan Amount" (Remember that if the down payment is less than 20% of the sale price you will have the added expense of Mortgage Insurance which is not figured into this calculation.)
2. Enter the current interest rate. Contact Brett or your mortgage company to find that out!
3. Estimate Annual Tax and Insurance and enter these values.
4. To test the effect of different loan periods try alternatives to the default of "30" years.
5. Each time you change a value hit "Calculate Now" to see what the effect is.