Mortgage Payment Calculator
This is a simple calculator for determining mortgage payments with down payments of 5%, 10%, 15% and 20% of the purchase price respectively. Naturally, a lower down payment produces a higer payment, but it increases your leverage.
To use this calculator, simply input the the purchase price, the amortization period in years, and the annual interest rate (please enter a rate between 2% and 20%). Then press "Calculate". If you want to make a new calculation, press "Reset" before entering all the information. The results are rounded to the nearest dollar.
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