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If any of these calculators stop working or are removed from thier site, please email me at: Ginger@HomesRwe.BIZ and I will forward your very own calculator on a spreadsheet that is super easy to use.

Mortgage Calculations by Hand  (scroll to bottom of page)

Mortgage payment calculator Find out how much your payments would be on a fixed rate loan.

Mortgage principal calculator This calculator figures your principal balance after any number of payments.

Mortgage length calculator
Figure out how long your mortgage will last depending on how much you pay monthly.

How much can I afford?
Depending on your income, debt & other factors, this calculator will tell you how much house you can afford.

Tax benefits of buying
Estimate the tax benefits of buying a home.

Should I buy or rent?
Analyze the total cost to rent versus the total cost to own.

Should I pay points?
Find out if it's worth it to pay points.

Debt consolidation calculator
Find out how long it takes to pay off a consolidation loan if you make a payment equal to your total monthly payments before consolidating.

How much income to qualify?
This calculator tells you how much you need to qualify for the home you want.

Mortgage Payment Amortization
Calculate your mortgage payment amortization.

Should I refinance?
Analyze the total cost and savings of your refinance transaction.

Fixed Rate Loan APR

APR Loan Calculator
Calculate the Annual Percentage Rate of your loan.

ARM Loan APR Calculator
Calculate the APR of your Adjustable Rate Mortgage loan.

ARM Payment Calculator
Calculate the payment of an Adjustable Rate Mortgage loan.

Mortgage Terminology
A glossary of mortgage terminology.

Economic Terminology
A glossary of economic terminology.

INSURANCE - very important considerations
Friends, family, the phone book and Internet are some of the sources you can use to find homeowners insurers. Get a wide range of prices from several companies. But don't consider price alone.
Private mortgage insurance is a type of insurance that helps protect the mortgage company against losses due to foreclosure. This protection is provided by private mortgage insurance companies and allows mortgage companies to accept lower down payments than would normally be allowed.
PMI Cancellation
Mortgage insurance can usually be canceled by the home buyer after he or she has at least 20 percent equity in the home. Borrowers should contact their servicer to find out the procedure for canceling mortgage insurance when they think they have achieved 20 percent equity.
PMI Payment Options
Private mortgage insurance can be paid on either an annual, monthly or single premium plan. Premiums are based on the amount and terms of the mortgage and will vary according to loan-to-value ratio...
Private Mortgage Insurance vs FHA Mortgage Insurance
Although the insurance protection concept is similar, there are differences between private mortgage insurance and FHA mortgage insurance. FHA insurance is a government-administered mortgage insurance program that does have certain restrictions.
Title Insurance
A policy of title insurance is a contract of indemnity between the insured and the insuring company relating to the title to the land described in the policy, protecting the insured against loss of damage by reason of defects...
Title Insurance Protection
Title Insurance insures that the "record" title is good subject only to the exceptions expressly set out in the policy. lt also insures against certain matters which do not appear of record, such as forgery, identity of parties...
Title Insurance Policy
An owner's policy protects only the owner while a mortgage policy protects only the holder of the mortgage on the property. Separate policies are required to protect both interests.
Title Insurance FAQ
Get answers to common title insurance questions.
Flooding is not covered by a standard homeowners insurance policy.
Mortgage Calculations by Hand

First you must define some variables to make it easier to set up: P = principal, the initial amount of the loan I = the annual interest rate (from 1 to 100%) L = length, the length (in years) of the loan, or at least the length over which the loan is amortized.

The following assumes a typical conventional loan where the interest is compounded monthly. First we'll define two more variables to make the calculations easier: J = monthly interest in decimal form = I / (12 x 100) N = number of months over which loan is amortized = L x 12

Now for the big monthly payment (M) formula ... it is:

                           M  =  P  x ------------------------
                                        1  - ( 1 + J ) ^ -N
                     where 1 is the number one (it does not appear too clearly
                     on some browsers)

So to calculate it, you would first calculate 1 + J then take that to the -N (minus N) power, subtract that from the number 1. Now take the inverse of that (if you have a 1/X button on your calculator push that). Then multiply the result times J and then times P.

The one-liner for a program would be (adjust for your favorite language):

         M = P * (
                  J / (1 - (1 + J) ** -N))

So now you should be able to calculate the monthly payment, M. To calculate the amortization table you need to do some iteration (i.e. a simple loop). Here are the simple steps :

Step 1: Calculate H = P x J, this is your current monthly interest Step 2: Calculate C = M - H, this is your monthly payment minus your monthly interest, so it is the amount of principal you pay for that month Step 3: Calculate Q = P - C, this is the new balance of your principal of your loan. Step 4: Set P equal to Q and go back to Step 1: You thusly loop around until the value Q (and hence P) goes to zero.

Many people have asked how to find N (number of payments) given the payment, interest and loan amount. The answer to the actual formula is in the book: The Vest Pocket Real Estate Advisor by Martin Miles (Prentice Hall). Here's the formula:

n = -1/q * (LN(1-(B/m)*(r/q)))/LN(1+(r/q))


  • q = amount of annual payment periods
  • r = interest rate
  • B = principle
  • m = payment amount
  • n = amount payment periods
  • LN = natural logarithm
These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.

Hopp for Action ... ... then, start packing !
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GINGER  HOPP    BROKER CFS #01240587          Realtor Since 1998


Placer County CA, Nevada County CA, Sacramento County CA, Marin County CA, Sonoma County CA, Napa County CA,  SF Bay Area and more California areas

  (707) 790-0022
.  "Certified Foreclosure Specialist"  
     Specializing in NOTES @ 55% of current market value

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