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bankrate mortgage calculator
Watch my video bankrate mortgage calculator and learn how to calculate Monthly payment, Total interest, Total payments e.t.c.
I show you how to use bankrate calculator http://www.bankrate.com/calculators/mortgages/mortgage-loan.aspx
Definitions
Mortgage amount
Original or expected balance for your mortgage.
Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Interest rate
Annual fixed interest rate for this mortgage.
Monthly payment
Monthly principal and interest payment (PI).
Total payments
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
Total interest
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
Prepayment type
The frequency of prepayment. The options are none, monthly, yearly and one-time payment.
Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
Start with payment
This is the payment number that your prepayments will begin with. For a one-time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number zero, the prepayment is assumed to happen before the first payment of the loan.
Savings
Total amount of interest you will save by prepaying your mortgage.
Report amortization
Choose how the report will display your payment schedule. Annually will summarize payments and balances by year. Monthly will show every payment for the entire term.
Mortgage loan calculator
Calculate your payment and more
Use this mortgage loan calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest will be paid and how much principal balance will be paid. Determine the effect of any principal prepayments. Press the \
Other Video about bankrate mortgage calculator:
Biweekly Mortgage Calculator with extra payments
http://www.biweeklymortgagetips.com free biweekly mortgage calculator with extra payments Use our Biweekly Mortgage Calculator and receive a personalized .
Apply For a Mortgage Online 24 hour approval mortgage money in 48 hours
APPLY ONLINE RIGHT NOW CLICK OUR WEBSITE LINK IN CHANNEL OPTIONS OR VISIT http://www.equityrefinancemortgageloans.ca WE DEAL WITH .
15 or 30 Year Mortgage- The TRUTH and The REAL Differences
Do you know the real differences between a 15 and a 30 year mortgage? Which one should someone choose if they are moving in 5 years anyway? Doesn't .
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