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Mortgage You can think of a mortgage as either building up equity or paying off debt. Although the payments are all equal, equity doesn't build up at a constant rate: that's ... |
... from individuals wondering what the simple formula is for ... inverse of that (if you have a 1/X button on your calculator ... This is from Mortgage Backed Securities by William W Barlett ... |
A mortgage calculator is an automated tool that enables the user to quickly determine the ... Some mortgage lenders are known to allow as high as 55%. Monthly payment formula |
Amortization formula. Karl's Mortgage Calculator uses a standard amortization formula commonly used around the world. Interest is calculated on a monthly basis. |
Download a free Adjustable Rate Mortgage ARM Calculator for Excel. ... The monthly interest rate is calculated via a formula, but the rate can also be ... |
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Mortgage Calculator Formula Questions and Answers
Resolved Question: homework help for math?
We are suppose to find a condo on the internet and pretend to be owners and find the payment amount you will pay in 30 years. We cannot use a down payment or taxes on the house.
we are to use the interest formula I=p x r x t
P=price 35.000 x r=rate 6.28 x t=time 30 years
35.000
x 6.28
x 30
-------------------
6594 calculator
then we do it again but this time we move the decimal in the rate 2 space to the left making it
35.000
x0.628 (like so)= 21.98 x 30= 659.4 /12=54.95 x 30 = 1648.5
on the condo website they have an estimated payment price of 172 per month for 30 years, my sister had gotten 183 per month for 30 years she can't remember how she came about the answer. Please try your best to work out the problem please! here is the website link so you can see it for yourself remember no down payment or taxes
look at their mortgage calculator at the bottom to compare.
copy this whole address in the address bar so you can see
http://washingtonpost.2.homescape.com/SCS/listing_details.jsp?affiliate_name=washingtonpost&calling_page=listing_result_list&listing_result_page=listing_result_list&filter_max_price=40000&search_by_type=new_mls%2Cnew_class%2Cnew_const%2Cresale_mls%2Cresale_class%2Cresale%2Cresale_ecom_owner%2Cnew_ec%20om_owner%2Cresale_ecom_agent%2Cnew_ecom_agent%2Cresale_ecom_broker%2Cnew_ecom_broker%2Cresale_ecom_builder%2Cnew_ecom_builder&tab_num=1&display_default_state_id=68984&filter_min_price=20000&community_sort_id=1228235517422&geo_area_id=68984&filter_property_type=condo_unit&filter_product_id=35730641
moreVoting Question: Help with java program?
I did allright with the program, but now I have to add an array of 7 years payment amount @ 5.35%, 15 years payment amount @ 5.5%, and I have yet to be ableto put this into a decimal place of two. This has been a very complicated addition to an easy program. How can I do this?
import java.text.DecimalFormat;
public class MortgagePayment
{
public static void main(String args[]) throws Exception
{
//declare and construct variables
int loanAmt = 200000; // this is the principal loan amount
int loanTerm = 30; // this is the loan term in years
int monthNum = 360; // indicates the monthly line item number
int line = 0;
double intRate = 5.75; // this is the initial interest rate
double monthlyPay = 0; // monthly payment
double monPrinPay; // monthly principal payment
double newLoanBal = 200000; // the loan balance
double monIntPaid; // interest paid
double newIntRate = 0; // monthly interest rate
// displays in the console window
System.out.println();
System.out.println("Welcome to Anne's Mortgage Payment Calculator");
System.out.println();
System.out.println("This program will calculate and display: (1) Monthly mortgage payments");
System.out.println("The principal loan amount = $" + loanAmt);
System.out.println("The interest rate = " + intRate + "%");
System.out.println("The term of the loan = " + loanTerm + " years");
// construct the formulas
loanTerm = loanTerm * 12;
newIntRate = (intRate * .01) / 12;
monthlyPay = loanAmt * newIntRate / (1 - Math.pow(1 + newIntRate, - loanTerm));
// displays the variable information and formula results
System.out.println();
System.out.println("The monthly payment for a $" + loanAmt + " over a " + loanTerm + "-month term (30 years) at a ");
System.out.println(intRate + "% interest rate = $" + monthlyPay);
System.out.println();
}
}
moreResolved Question: Help correct this code until it runs-interest needs to increase-numbers rounded?
//This program will show how much you will pay per
//month if you take out a loan for $200,000.00 and pay it back
//in 30 years. The formula to calculate mortgage is as follows:
//R=Pi/1-(1+1)-n(sqrt)
//R= Monthly Payment, P= Amount Borrowed, r= Annual Interest Rate (decimal), i= Interest
//rate per compounding period r/12, n= Number of months to repay (360)
//This calculator will also show the loan balance and interest paid
//for each payment over the term of the loan.
//
import java.text.DecimalFormat;
public class MortgagePaymentFranklin
{
public static void main(String args[]) throws Exception
{
//declare and construct variables
int loanAmt = 200000; // this is the principal loan amount
int loanTerm = 30;
// this is the loan term in years
int monthNum = 360;
// indicates the monthly line item number
int line = 0;
double intRate = 5.75;
// this is the initial interest rate
double monthlyPay = 0.0;
// monthly payment
double monPrinPay; // monthly principal payment
double newLoanBal = 200000;
// the loan balance
double monIntPaid; // interest paid
double newIntRate = 0;
// monthly interest rate
// displays in the console window
System.out.println();
System.out.println("Welcome to Anne's Mortgage Payment Calculator");
System.out.println();
System.out.println("This program will calculate and display: (1) Monthly mortgage payments");
System.out.println("The principal loan amount = $" + loanAmt);
System.out.println("The interest rate = " + intRate + "%");
System.out.println("The term of the loan = " + loanTerm + " years");
// construct the formulas
loanTerm = loanTerm * 12;
newIntRate = (intRate * .01) / 12;
monthlyPay = loanAmt * newIntRate / (1 - Math.pow(1 + newIntRate, - loanTerm));
// displays variable info and formula results
System.out.println();
System.out.println("The monthly payment for a $" + loanAmt + " over a " + loanTerm + "-month term (30 years) at a ");
System.out.println(intRate + "% interest rate = $" + monthlyPay);
System.out.println();
System.out.println("Listed below are the monthly interest rates, monthly payments, interest");
System.out.println("payments, and loan balances for the term of the loan:");
System.out.println();
System.out.println("Interest Rate\t\tMonthly Payment\t\tInterest Paid\tLoan Balance");
System.out.println("-------------\t\t---------------\t\t-------------\t------------");
// constructing formulas for monthly interest paid, monthly principal paid, and new loan balance
monIntPaid = newIntRate * newLoanBal;
monPrinPay = monthlyPay - monIntPaid;
newLoanBal = loanAmt - monPrinPay;
// Begins while loop
while(monthNum > 0)
{
System.out.println(newIntRate + "%\t$" + monthlyPay + "\t$" + monIntPaid + "\t\t$" + newLoanBal);
monthNum--;
newIntRate = newLoanBal * monIntPaid;
monPrinPay = monthlyPay - monIntPaid;
newLoanBal = newLoanBal - monthlyPay + monIntPaid;
if(line == 1)
{
line = 0;
try
{
Thread.sleep(2000);
}
catch (InterruptedException e)
{
}
}
else
{
line++;
}
}
}
}
moreResolved Question: Round Up Payment amounts to the 10ths in Java?
Am having trouble figuring out where to put a code in to round up payment amount and internterest rates in a mortgage calculator Java program code.
I have figured out how to get the math in formula
and the calculator works, I just can't get the output
to read as rounded up and to the 10ths. ( i.e. 0.00 )
moreResolved Question: Is there a simple way to find a monthly mortgage payment without taxes and escrow?
Thanks for your answer, however, I saw it done using a TI calculator, I don't remember what steps they used. How do you figure monthly payments using an installment loan formula? PMT??? w/o interest and escrow, and taxes. thank you
thanks.....
moreResolved Question: Mortgage Broker or Mathematician please help?
I am looking for the formula / method to use to calculate percentile returns over a given period of time - e.g. if a £100 000 investment had a 10% growth PA, how do you work out its value in a given number of years without doing the sum year by year? Online mortgage calculators and similar obviously manage it but I would like to use on calculator.
moreResolved Question: Java Mortgage calculator help.?
Can someone help me flesh out the details of this? I need to make a mortgage calculator in java does the following
The user will be asked to enter to the amount of the mortgage loan, the term in years of the mortgage, and an annual interest rate. The amount of the mortgage loan shall be greater than 0 and not exceed 10,000,000 dollars. The minimum term for the loan is five years, with a maximum of 30 years. In addition to the user being able to supply the mortgage information the application will display three of the most commonly used mortgages and the user shall be able to select these mortgages instead of supplying the mortgage information. Once the user has provided the mortgage information, the program shall calculate the monthly mortgage payment and the amortization table for the life of the mortgage. For each month the amortization table shall display the loan period, loan balance, principal balance, interest balance, principal paid and interest paid.
Here is mortgage payment formula.
PMT = (PV x IR) / (1 - (1 + IR)^-NP)
Where:
PMT = Monthly Payment
PV = Principle Value (amount of loan)
IR = Interest Rate, by month
NP = Note Period, or mortgage term in months
IR = apr/100/12
NP = term * 12
if Apr > 0 AND APR <= 100 then
PMT = (Principal * IR)/(1-(1 + IR)-np)
else if Apr = 0
PMT = Principal/NP
end if
I need help I am not so good with Java. As long as i get the calculator part of this done i think i can handle the rest.
moreResolved Question: Simple C++ program, not compiling, I'm having trouble?
Please bear with me. I am a first year CS student and I know the mistakes I've probably made are silly.
// Mortgage Calculator
#include <iostream>
#include <string>
#include <iomanip>
#include <cmath>
using namespace std;
int main()
{// User input
cout << "Welcome to Eric's Mortgage Calculator!"<< endl;
string name;
cout << "First,what is your name?" << endl;
getline(cin,name);
string address;
cout << "Your address?" << endl;
cin >> address;
string city;
cout << "Your city?" << endl;
cin >> city;
string state;
cout << "Also, your state?" << endl;
cin >> state;
string zip;
cout << "And your zip code?" << endl;
cin >> zip;
cout << "Okay, now you're house..." << endl;
string cost;
cout << showpoint << fixed << setprecision(2);
cout << "What is the cost of your home?" << endl;
cin >> cost;
string downPayment;
cout << "And how much is the downpayment?" << endl;
cin >> dp;
string ir;
cout << "What is the interest rate of your loan? (Please enter with decimal =))" << endl;
cin >> ir;
string yrs;
cout << "How many years is the loan for?" << endl;
cin >> yrs;
//Calculations and assignments
float num = cost * (ir * (1 + ir));
float num2 = pow(num, 12);
float den = (1 + ir);
float den2 = pow(den, 12);
float den3 = (den2 - 1);
float monthlyPayment = (num2 / den3);
//Output
//Their info
cout << endl;
cout << endl;
cout << "Your information:" << endl;
cout << left ;
cout << "Name:" << name << endl;
cout << "Address:" << address << endl;
cout << "City:" << city << endl;
cout << "State and Zip:" << state << "," << zip << endl;
// Their calculations
cout << endl;
cout << endl;
cout << "And here are your calculations," << name << endl;
cout << "Cost:" << cost << endl;
cout << "Down Payment:" << downPayment << endl;
cout << "Interest rate:" << ir << endl;
cout << "Life of loan:" << yrs << endl;
cout << "Approximate Mortgage Payment:" << monthlyPayment << endl;
I know I'm not declaring the variables right. I think I should be using char or string for some. I also think my syntax for the formula is messed up. Heeeellpp!
By the way this is a program that calculates the monthly payment of a mortgage using the amortization formula.
moreResolved Question: How do i add a formula to calculate for adding mortgage insurance?
I have created a simple mortgage calculator which will work out the mortgage payments for a specific loan to value (5%, 10%, 15% down etc) and it will add mortgage insurance and calculate the income required. How do i add a formula which will work out the mortgage insurance for any down payment amount. i'm looking for something like :
if down payment is X then mortgage insurance is Y
in canada the mortgage insurance will change with longer amortization as well
thanks for any help
moreResolved Question: Where can I find the formula & lookup table for a reverse mortgage? I want to build/code a reverse mtg calc.?
I find plenty of calculators, but I want to actually build my own so I can make it fancy with sliders to balance between lump-sum payout and monthly payments and equity line. Anyone know? Thanks much!
moreResolved Question: How can one be innocent and do not know their "adjustable" mortgage rate can be adjusted!?!?
English is my third language and I still know how to use mortgage calculation tools on lender websites. Not to mention, I can use mathematic formula or spreadsheet or calculator to calculate monthly payment. I also know to ask my parents, uncles, aunts, teachers. and friends too. Still I feel that people project stupidity image on anyone who don't speak English well.
Thanks everyone! It's good to know that I am not alone in feeling that this whole thing is not fair. The future of this country would be interesting if government keep rewarding stupid, irresponsible, lazy and greedy behavior. Note that ambition and greed are not the same thing.
For crabby_blindguy3: I am very humble. I am almost surprised there are many other people less smart than I am and signed into a contract in English language which is their native language.
For culpepp11: I agree they're ignorant rather than innocent, but I have the feeling that the government painted them as innocent so they are eligible to help spending the falling US dollars. My question read: "How can one be innocent...?"
moreResolved Question: I need help with a mortgage calculator I'm writing in C++?
Here is the formula I came across that I'm going to use:
monthlyPayment = (principle * monthlyInterest) / (1 - pow((1 + monthlyInterest), - monthlyTerm);
I need to know what the "pow" is for
moreResolved Question: How do you figure amortization by hand, without the help of a mortgage calculator?
Is there a formula that I could simply plug the numbers into that would give me the amount of the payment for $137,500 with a 5.25% interest rate for 30 years?
Im sorry, I can't figure out that formula, could you please explain it step by step so that I can figure out how to use it for other equations? Thank you, also, I know how to use a mortgage calculator, need to learn how to do this without one.
Thanks for the extra part, that does help a lot :)
moreResolved Question: How do you figure amortization by hand, without the help of a mortgage calculator?
Is there a formula that I could simply plug the numbers into that would give me the amount of the payment for $137,500 with a 5.25% interest rate for 30 years?
moreResolved Question: is there a way to find out my mortgage pay off date? what is the formula?
Can I do it on a regular calculator. I have a financial calucultor around somewhere. Every interest rate calculator I go to on the internet gives me a different answer.
I owe approx $19,372 and pay $333.34/mo @ %5.99
moreResolved Question: mortgage pre-approval?
My husband and I are beginning the process of buying our first home. We'll be setting up an appt. soon for a pre-approval to then begin looking at houses. I know that typically lenders approve for more than it is advised to borrow and I'm wondering if anyone can give me a good formula for about how much we'll qualify for vs. how much we should ideally not exceed - I've tried online calculators but they are all so different! We make 85000/year and have 700/month in debt. Also - since pre-approvals expire, if we don't find a house within the time frame given will we have to get pre-approved again? Thanks for your help!
moreResolved Question: Need formula on MS Excel to make amortization calculator?
i'm making a chart of 36 payments (rows 1-36) so i need to make each column for payment (column A), interest (column B), principle (column C) and balance (column D). I just want to input the loan amount in one cell and get a result for the interest paid, principle paid and balance for all 36 payments. If you dont understand visit http://www.lenderhomepage.com/tools/mortgage-amortization-calculator.php This is what i'm trying to make on excel
moreResolved Question: How would I calculate my mortgage payment using only a calculator? Is there a formula?
for example, 30 year fixed monthly payment?
How would I calculate it?
I need a formula.
using a cheap $5 dollar calculator with no financial functions.
moreResolved Question: I need help computing a mortgage payment.?
421,000 at 4.8% over 30 yrs. I can go to Bankrate.com, but I need to show the work for an Algebra paper. I'm not sure how to do the formula on a calculator.
moreResolved Question: Will someone please help me compute compound interest?
I need the formula for computing a mortgage. Also, I have a Casio fx 300ms calculator, and don't know how to input exponents ie. ^-360
moreResolved Question: mortgage calculator?
I am interested in learning about calculating a monthly mortgage payment without being harrassed by loan companies. How do I figure out how much I can borrow? I know that I use the current rates I see listed in the newspaper, but is there a formula that banks use?
moreResolved Question: Formula for APR calculation ?
I am creating a custom ColdFusion mortgage calculator... I have everything working but the APR formula.
Known parameters are standard interest rate, closing costs, monthly payments, term of loan... can someone help me sort out the code and/or logic to calculate APR?
I have tried all sorts of things and none of them is working for me. Please help if you can!
moreResolved Question: Payoff is being requested on a note that I hold. Payments have been missed by the debtor, how do I calculate?
I sold my home and hold a note on the home (The buyer needed help to qualify for the loan so I hold a 48 month $10,000 note.) Payments have been missed, about 6, some have been doubled. Overall about 5 payments are past due. I have the information in a microsoft works spread sheet. Is there a calculator on ine that I can use, or formula to plug into the works spread sheet to give a mortgage company a payoff... I guess the debtor is consildating loans. Thanks Purely Guessing.
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