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Mortgage Calculator 2017-09-14T12:19:00+00:00

Mortgage Calculator

Buying Real Estate in Orlando?

The below tool computes monthly payments based on the amount borrowed, the loan term & APR. It also computes your total monthly payments including property tax, property insurance and PMI payments. You can click on the “Create Amortization Schedule” button to create a printable amortization report.

Lightning Quick Automatic Results

  • It works automatically on-the-fly to show the results immediately as you edit the input variables.
  • There is no need to click a submit button to see your results.
  • The output fields are shown in blue text with a yellow background.
  • Click the amortization schedule button to create a printable amortization chart.

Private Mortgage Insurance (PMI)

  • If you put down 20{dc78bc69cb25cce1ab61b591d2cb5ffecb6410bd6b76851a10c016b09b5a297b} or more of the home’s value, PMI is typically not required & it automatically computes PMI as zero in those cases.
  • If your down payment is below 20{dc78bc69cb25cce1ab61b591d2cb5ffecb6410bd6b76851a10c016b09b5a297b}, you will typically be required to carry PMI until the outstanding loan-to-value ratio (LTV) falls below 80{dc78bc69cb25cce1ab61b591d2cb5ffecb6410bd6b76851a10c016b09b5a297b}. Many lenders automatically cancel PMI at 78{dc78bc69cb25cce1ab61b591d2cb5ffecb6410bd6b76851a10c016b09b5a297b}, however you can request cancellation at 80{dc78bc69cb25cce1ab61b591d2cb5ffecb6410bd6b76851a10c016b09b5a297b}.
  • On low-rate governmental loan programs, mortgage insurance is typically required even if you have a strong down payment.

Rent vs. Buy

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