Mortgage Payment Calculator w/Amortization Schedule

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Mortgage Payment Calculator w/Amortization Schedule

This mortgage calculator will compute a monthly payment amount based on the principal amount borrowed, the length of the loan and the annual interest rate. This calculator will also compute your total mortgage payment which will include your property tax, property insurance and PMI (Private Mortgage Insurance - protects the lender against default by the borrower) payments. Once you have computed the monthly payment, click on the "Create Amortization Schedule" button to create a report you can print out. Amortization is the repayment of a loan with periodic payments of both principal and interest calculated to payoff the loan at the end of a fixed period of time.
Mortgage loan amount:		Explain/Instruct
Annual interest rate (APR):
Mortgage loan term (# years):
Annual real estate taxes:
Annual homeowners insurance:
Monthly PMI (Private Mortgage Insurance):

? Monthly Principal and Interest Payment:		Explain/Instruct
? Monthly Taxes, Insurance and PMI payment:
? Total monthly mortgage payment:

"); var schedule = (part1 + "" + part2 + "" + part3 + part4 + ""); reportWin = window.open("","","width=500,height=400,toolbar=yes,menubar=yes,scrollbars=yes"); reportWin.document.write(schedule); reportWin.document.close(); } } //GIVE ENTRY INSTRUCTIONS function help01(form) { document.mortgagePayment.enterHelp.value = ("ENTER: The total amount you would be borrowing to purchase the home."); } function skipTo(form) { form.enterHelp.value = ""; form.numYears.focus(); } function help02(form) { document.mortgagePayment.enterHelp.value = ("ENTER: The annual interest rate you expect to pay on this mortgage. You can enter the rate either as a percentage (8.25) or as a decimal (.0825), whichever you prefer."); } function help03(form) { document.mortgagePayment.enterHelp.value = ("ENTER: The number of years you will be financing the home loan for."); } function help04(form) { document.mortgagePayment.enterHelp.value = ("ENTER: The annual property tax payment you expect to pay. As a rule of thumb, you can expect to pay 1.1% (home price X .011) of the purchase price per year."); } function help05(form) { document.mortgagePayment.enterHelp.value = ("ENTER: The annual homeowner's insurance payment you expect to pay. As a rule of thumb, you can expect to pay 1.5% (home price X .015) of the purchase price per year."); } function help06(form) { document.mortgagePayment.enterHelp.value = ("ENTER: The monthly Private Mortgage Insurance (PMI) you expect to pay. If your downpayment is less than 20% of the value of the home you are buying, you may be required to pay mortgage insurance of somewhere between 0.02% and 0.07% of your principal balance each month (e.g, principal balance X .00043)."); } //GIVE RESULT EXPLANATIONS function help07(form) { document.mortgagePayment.resultHelp.value = ("RESULT: This how much your monthly principal and interest payment will be."); } function help08(form) { document.mortgagePayment.resultHelp.value = ("RESULT: This is the total of your other monthly payments (taxes, insurance & PMI)."); } function help09(form) { document.mortgagePayment.resultHelp.value = ("RESULT: This the total of all monthly payments related to your mortgage."); }

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