Helpful Hints for using these Mortgage
Calculators:
"Principal" is the loan amount or the
amount you want to borrow.
"Term of a Loan" and "Amortization" is
360 monthly payments which is equivalent to a 30 year loan or 180 monthly
payments for a 15 year loan.
"Amortization Schedule" will show you
how much principal vs. interest is paid with each monthly payment along
with your current mortgage balance.
Click the link for more information on
homeownership and interest rates. This site lists typical interest
rates in today's market, but rates vary by region and lender. Rates
are for informational purposes and are not guaranteed. More
Information on Rates and Homeownership