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Loan Payment Calculator

Below you'll find a simple loan calculator which allows you to input different interest rates, loan amounts, and mortgage length so you can estimate your monthly payment. Plus, you can also see an amortization schedule of a loan which will show you how much of your payment goes towards the principle and how much towards interest. This loan calculator should be used only as an estimate as it doesn't allow for taxes and insurance.

Input

Loan Info
Amount	($)
Interest	(%)
Loan Length	(Yrs)
Property Info
Home Value	($)
Taxes and Insurance
Annual Property Taxes	($) (%)
Annual Insurance	($) (%)
Annual PMI	($) (%)
Show amortization table

Financial Analysis

Monthly Payment	$1,247.74
Monthly Property Taxes	$250.00
Monthly Insurance	$125.00
Loan to Value	80.000%
Months with PMI	0
Monthly PMI	$0.00
Total Monthly Payment	$1,622.74

DISCLAIMER: The figures above are based upon conventional program guidelines. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review is necessary to obtain an exact qualification. If you have less than 20% equity in your home, a monthly mortgage insurance payment may be required.

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"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.

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