Calculator for Mortgage

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Here we represent the wonderful Mortgage Calculator app. Want to figure out how much your total mortgage

the principal will be?? then this app is the one for you.

A mortgage is nothing more than a debt instrument with a lien on the property being mortgaged, and a mortgage

payments are calculated as payments in an ordinary annuity.

Use our mortgage calculator to estimate your mortgage principal by given down payment, interest, and term.

You can use the mortgage calculator to calculate house mortgage, auto loans, or other types of loans.

The mortgage calculator can be used like any loan calculator.

The formula for calculating the mortgage amount:~

Formula : M = P[r(1+r)^n/((1+r)^n)-1)]

M = the total monthly mortgage payment.

P = the principal loan amount.

r = your monthly interest rate. Lenders provide you an annual rate so you’ll need to divide that figure by 12 (the

number of months in a year) to get the monthly rate. If your interest rate is 5%, your monthly rate would be

0.004167 (0.05/12=0.004167)

n = number of payments over the loan’s lifetime. Multiply the number of years in your loan term by 12 (the

number of months in a year) to get the number of payments for your loan. For example, a 30-year fixed

mortgage would have 360 payments (30x12=360)

KEY FEATURES:~

● helps to calculate the total mortgage payment in just a few seconds

● The only parameters which you have to enter are :

1. payment amount i.e; monthly down payment amount of the mortgage loan

2. rate of interest i.e; the yearly interest rate of the mortgage loan

3. compounding frequency i.e; the

frequency or number of times per year

that interest is compounded in the loan

4. periods until maturity i.e; the total number

of years till the mortgage tenure ends

All you need to do is provide the monthly down payment value,rate of interest per year, the compounding

frequency and number of periods..only these four variables to generate your mortgage principal in just seconds.

This app is completely free of cost and does not require any personal information.

Monthly Payment Calculator is developed by PH Solution.

Download this app now!!!