US Mortgage Calculator - Help
How to use the US mortgage calculator

US mortgage calculator - help

This US Mortgage Calculator is designed to do 2 types of calculations:

Calculate your periodic payment or the principal amount you can borrow:

A- How to find your periodic payment:

  1. Enter the principal (the amount you want to borrow)
  2. Enter the interest rate (annual percentage)
  3. Enter the length of the loan (the amortization period in months)
  4. Enter the term of the loan (the length of the loan contract)
    Note: As a rule, US mortgages do not have terms per say.
    However, the "Term (months)" input can be used to see how
    much of the loan has been repaid after x number of months.
  5. Select the payment type (you have the following options:
    Annually, Semi-Annually, Monthly, Bi-weekly, Weekly,
    Accelerated bi-weekly, and Accelerated weekly)
  6. Click on "Calculate Payment".

B- How to find the amount you can borrow:

  1. Enter all the above information, except for the principal (1) that
    you leave as is.
  2. Enter the amount of your periodic payments (7)
  3. Click on "Calculate Principal" (8)
US Mortgage Calculator
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