Purchase Money Mortgage Balance Calculator

house This calculator will estimate the mortgage balance owed at the end of the initial payment term when the loan payment has been calculated on a longer term in order to make the payment more affordable in the near term.

Mortgage loan amount:
Annual interest rate (APR):
Desired monthly payment :
Years before loan is payable in full:
Balance after specified # of years:

 

House and Money.

Key Tips & Advice

Things to consider when buying a home:

  • While the 30-year mortgage is the most popular term in the United States, a 15-year term builds equity much quicker;
  • Home buyers in the US move on average of once every 5 to 7 years;
  • Early mortgage payments apply primarily to interest rather than the principal;
  • Using a shorter loan term, paying extra & making bi-weekly payments can better help offset any transaction-based expenses.

Do Home Prices Always Go Up?

In the United States real estate prices have went up about 6-fold since 1970.