This is a simple home equity loan calculator which should give you an idea of what your monthly bank payment will be.
Instructions:
Step 1: In the "Home Price" box, type in the
price of the home would you like to buy.
Step 2: In the "Down Payment" box, type in the amount you are
planning to initially put towards the price of the house.
Step 3: In the "Loan Term" field, type in how long you would like the loan to be for in months or years.
Step 4: In the "Annual Interest Rate" box, type in the mortgage rate your bank is giving you.
Step 5: Click the Calculate button, your estimated loan payment will appear in the "Monthly Payment" box.
Loan Mortgage Calculator Summary
This calculator provides a quick summary and the results are rounded up. This is only an estimate for quick reference and shouldn't be used for determining final loan planning; seek an advisor.