Below is our mortgage payment analyzer. Just input the mortgage amount, amortization, payment frequency, and our interest rate. You can choose between generating a report that features an amortization table for each year, or each payment. You can also incorporate prepayments, or use our prepayment analyzer for a more in-depth review of prepayment scenarios. Once you are ready, click “Calculate” at the top of the calculator.
The payment analyzer has many additional features. Start to enjoy and explore the additional features by selecting one of the underlying tabs. The “Total Payments” tab shows you exactly how much your mortgage will cost you, and the respective breakdown.
The “Mortgage Term” tab will show you the remaining principal balance of the mortgage over the life span of the mortgage.
Once you are done with the calculator, click “View Report” at the top of the calculator to see an in-depth review and explanation of the scenario. The report features a full amortization table which tracks what your payment breakdown and balance will be for the life of the mortgage. Using an easy to understand chart you can see a variety of useful information:
1) The amount of principle and interest you pay each year
2) The remaining balance of the mortgage after each year
3) The change in principle and interest paid between years
4) The total payment each year
5) The total principle and interest paid at the end of the mortgage (your total cost of borrowing)
All definitions are featured under the calculator.
For a more in-depth and professional review of your individual and personalized situation please give Harpreet Singh The Mortgage King a call at (416) 795-1919.