| One of the most important considerations when buying, or building a new home, is "How much is this going to cost?" and "Can I afford it?" The following Mortgage Calculator will allow you to find out how much your monthly payment will be. |
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Input:
(do not include any $ signs, or commas; please add decimal sign for interest rate; change amounts as needed) |
Results: |
| Loan Amount |
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| Loan Length |
Monthly Principal + Interest |
| Interest Rate |
Monthly Tax |
| Annual Tax |
Monthly Insurance |
| Annual Insurance |
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Total Payment |
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Please note: to calculate the amount to put in the "Annual Tax" field,
use the following formula:
Base price of home, divided by 2, multiply by the area millage rate = Annual Tax
Example:
If you were purchasing a home valued at $200,000
$200,000/2 = $100,000 x .0227615 = $2276 Annual Tax
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Please note: all computations are intended to be estimates and, in no way, reflect the actual payment or tax liability. Consult local governing authority for actual millage rate at time of purchase.
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