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Rob Schultz, CFP®, PFP

Calculators


Got a question that involves number crunching? Use the calculators on this page to find the mathematical answer to the most commonly asked number-crunching questions, and see your inputs displayed next to the graph, chart, and/or table output in a side-by-side display.

Calculator: Print This Page
Mortgage Payment Calculator
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Before buying a home, it's likely that many questions will arise, particularly in regard to financing. For example:


What will the monthly payment be?


How will the loan term affect the monthly payment (e.g., 15-year, 30-year)?


How will the interest rate affect the monthly payment?


Enter the required values to calculate the monthly payment. An annual amortization chart and a chart comparing total principal and interest payments will be generated.


Mortgage Payment Calculator Results
Monthly payment: $1,610.46Total payments: $579,767Total interest: $279,767

Your monthly payment is: $1,610.

This chart shows the part of your yearly payments that is applied to interest and the part that is applied to principal.

Over time, though your payments stay the same, the interest portion decreases, and the principal portion increases.


Over the term of your loan you have total payments of $579,767, of which $279,767 is interest payments.



    Assumptions

  • Calculation assumes constant monthly payments over the life of the loan, monthly calculation of interest on the remaining unpaid principal, and no prepayment. Only principal and interest payments are included; property tax and/or insurance payments are not included.
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Securities and investment advisory services offered through Royal Alliance Associates, Inc., member FINRA/SIPC and a registered investment advisor. Additional investment advisory services offered through NWF Advisory Services Inc., a registered investment advisor not affiliated with Royal Alliance Associates, Inc. Certain insurance products offered through New World Financial & Insurance Services, Inc., an entity not affiliated with Royal Alliance Associates, Inc. or registered as a broker/dealer or investment advisor.



This communication is strictly intended for individuals residing in the state(s) of AL, AZ, CA, CO, IL, ME, MA, NV, NM, NY, OR, PA, PR, TX, WA and WY. No offers may be made or accepted from any resident outside the specific states referenced.
 


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