Mortgage Calculator

A mortgage calculator turns a loan amount, an interest rate and a term into the payment you would make each month. Enter the three figures to get the principal and interest payment, or switch to the second mode to fold in annual property tax and home insurance for the full housing cost. It also returns the total paid over the life of the loan and how much of that is interest. Stretching the term lowers each payment but raises the interest considerably, which the totals make plain.