Mortgage Calculator

Do you need help in determining what kind of property you can afford?  Use the Interest Rate Factor Chart to find out what your monthly payments would be.

Factors per $1000

     Interest Rate             Term 15 Yrs.          Term 30 Yrs.            Interest Rate             Term 15 Yrs.             Term 30 Yrs.

4

7.40

4.77

8

9.56

7.34

4 1/8

7.46

4.85

8 1/8

9.63

7.42

4 1/4

7.52

4.92

8 1/4

9.70

7.51

4 3/8

7.59

4.99

8 3/8

9.77

7.60

4 1/2

7.65

5.07

8 1/2

9.85

7.69

4 5/8

7.71

5.14

8 5/8

9.92

7.78

4 3/4

7.78

5.22

8 3/4

9.99

7.87

4 7/8

7.84

5.29

8 7/8

10.07

7.96

5

7.91

5.37

9

10.14

8.05

5 1/8

7.97

5.44

9 1/8

10.22

8.14

5 1/4

8.04

5.52

9 1/4

10.29

8.23

5 3/8

8.10

5.60

9 3/8

10.37

8.32

5 1/2

8.17

5.68

9 1/2

10.44

8.41

5 5/8

8.24

5.76

9 5/8

10.52

8.50

5 3/4

8.30

5.84

9 3/4

10.59

8.59

5 7/8

8.37

5.92

9 7/8

10.67

8.68

6

8.44

6.00

10

10.75

8.77

6 1/8

8.51

6.08

10 1/8

10.82

8.87

6 1/4

8.57

6.16

10 1/4

10.90

8.96

6 3/8

8.64

6.24

10 3/8

10.98

9.05

6 1/2

8.71

6.32

10 1/2

11.05

9.15

6 5/8

8.78

6.40

10 5/8

11.13

9.24

6 3/4

8.85

6.48

10 3/4

11.21

9.33

6 7/8

8.92

6.57

10 7/8

11.29

9.43

7

8.99

6.65

11

11.36

9.52

7 1/8

9.06

6.74

11 1/8

11.44

9.62

7 1/4

9.13

6.82

11 1/4

11.52

9.71

7 3/8

9.20

6.91

11 3/8

11.60

9.81

7 1/2

9.27

6.99

11 1/2

11.68

9.90

7 5/8

9.34

7.08

11 5/8

11.76

10.00

7 3/4

9.41

7.16

11 3/4

11.84

10.09

7 7/8

9.48

7.25

11 7/8

11.92

10.19

This chart will help you calculate your monthly principle and interest payments for both fixed and adjustable rate loans at various interest rates over 15 and 30 year terms.

Start by finding the appropriate interest rate, then look across to the column indicating the desired term of the loan.  That number is the interest rate factor.   This is the dollar amount required each month to amortize $1000 over the specified term.  To calculate your principle and interest payment, multiply the interest rate factor by the total loan amount in 1,000's.

Here is an example:     Interest Rate:                 7 3/4%

                                  Term:                             30 Years

                                  Factor per $1,000        7.16

                                  Total Mortgage               $115,000

                                            7.16 X 115 = $823.40

This is a calculation of principle and interest only.  It does not include property taxes, insurance, association dues, or other charges.

 

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Last updated on 05/14/02.
Webmaster: Pam Brister