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Mortgage Calculator

The mortgage calculator aids in estimating not just the total amount owed each month but also other related charges. Additional payments or yearly percentage increases of typical mortgage-related costs are options. The calculator is mostly meant for use by citizens of the United States.



Mortgage Calculator

Mortgage Calculator

Estimate your monthly payment and total costs.



A mortgage is a type of loan that is backed by real estate, typically. It is defined by lenders as the amount borrowed to cover real estate expenses. Essentially, the lender assists the buyer in paying the seller of the home, and the buyer commits to paying back the loan over a certain amount of time—typically 15 or 30 years in the United States. The buyer pays the lender a monthly payment. The principle, or the initial amount borrowed, is a percentage of the monthly payment. The interest, or the price paid to the lender for using the funds, makes up the remaining amount. To pay for property taxes and insurance, there can be an escrow account involved. The last monthly payment must be made before the buyer can be regarded as the complete owner of the mortgaged property. The typical 30-year fixed-interest mortgage loan, which accounts for 70% to 90% of all mortgages in the United States, is the most often used type of loan. In the United States, the majority of individuals own homes through mortgages.

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