Mortgage Payment Calculator
Mortgage Payment: a planned Super Calculator tool. Covers home price (currency). Stub page: the tool, its formula and a worked example are not published yet.
Mortgage Payment Calculator is a planned calculator in the real estate section of Super Calculator, covering mortgage core.
What this calculator will compute
Inputs: home price (currency), down payment (currency or %), annual nominal rate (%), term (years) and start date.
Outputs: monthly principal and interest (currency), total interest paid (currency), total cost (currency) and payoff date.
Formula, recorded as scope and not yet verified against a primary source: Standard annuity payment M = P * i / (1 - (1+i)^-n), where i is the periodic rate (annual nominal rate divided by 12 for US conventions) and n is the total number of monthly payments. Canadian fixed-rate mortgages are semi-annually compounded by statute, so i = (1 + r/2)^(1/6) - 1 rather than r/12.
Status
This page is a stub. The calculator is not built, no figure on this page has been verified against the authority that sets it, and nothing here should be used to make a decision. The page exists so that the site structure is complete and so that articles can link this concept on first mention.
The stub carries noindex, nofollow and is excluded from the sitemap.