Eagleview Properties, LLC
A Metro Brokers Company
Real Estate Services for Colorado

Mike Bradley
Broker Owner
Realtor®, MBA


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	Mike's Websites MikeSellsFirelight.com Mike is a Real Estate Specialist for Firelight at Highlands Ranch TV Interviews See interviews of Mike Bradley on MetroBrokersTV.com

Mortgage Calculator

Plug in your numbers below and click "Calculate" to see your anticipated monthly payments on a home loan. Note that this calculator has been specially configured with estimated Colorado real estate taxes and might be inaccurate for states other than Colorado.


Purchase & Financing Information
Sale Price of Home:	(In Dollars)
Percentage Down:	%
Length of Mortgage:	years
Annual Interest Rate:	%
Explain Calculations:	Show me the calculations and amortization
	Start Over
Mortgage Payment Information
Down Payment:	$10,000.00
Amount Financed:	$190,000.00
Monthly Payment:	$1,668.19 (Principal & Interest ONLY)
	Since you are putting LESS than 20% down, you will need to pay PMI (Private Mortgage Insurance), which tends to be about $55 per month for every $100,000 financed (until you have paid off 20% of your loan). This could add $104.50 to your monthly payment.
Monthly Payment:	$1,772.69 (Principal & Interest, and PMI)
	Residential (or Property) Taxes are a little harder to figure out... In Colorado, the average residential tax rate seems to be around $10 per year for every $1,000 of your property's assessed value. Let's say that your property's assessed value is 85% of what you actually paid for it - $170,000.00. This would mean that your yearly residential taxes will be around $1,700.00 This could add $141.67 to your monthly payment.
TOTAL Monthly Payment:	$1,914.35 (including PMI and residential tax)

One thing that in not factored into this calculation is hazard insurance, which most mortgage lenders require. Depending on whom you obtain hazard insurance through and your selected deductables, you could expect another $30 to $200 added to your monthly payment.

1	The down payment = The price of the home multiplied by the percentage down divided by 100 (for 5% down becomes 5/100 or 0.05) $10,000.00 = $200,000.00 X (5 / 100)
2	The interest rate = The annual interest percentage divided by 100 0.06625 = 6.625% / 100
The monthly factor = The result of the following formula:
3	The monthly interest rate = The annual interest rate divided by 12 (for the 12 months in a year) 0.00552083333333 = 0.06625 / 12
4	The month term of the loan in months = The number of years you've taken the loan out for times 12 180 Months = 15 Years X 12
5	The monthly payment is figured out using the following formula: Monthly Payment = 19000000 * (00055 / (1 - ((1 + 00055)^-(180)))) The amortization breaks down how much of your monthly payment goes towards the bank's interest, and how much goes into paying off the principal of your loan.

Amortization For Monthly Payment: $1,668.19 over 15 years

Month	Interest Paid	Principal Paid	Remaining Balance
1	$1,048.96	$619.23	$189,380.77
2	$1,045.54	$622.65	$188,758.12
3	$1,042.10	$626.09	$188,132.04
4	$1,038.65	$629.54	$187,502.49
5	$1,035.17	$633.02	$186,869.47
6	$1,031.68	$636.51	$186,232.96
7	$1,028.16	$640.03	$185,592.94
8	$1,024.63	$643.56	$184,949.37
9	$1,021.07	$647.11	$184,302.26
10	$1,017.50	$650.69	$183,651.57
11	$1,013.91	$654.28	$182,997.30
12	$1,010.30	$657.89	$182,339.41
Totals for year 1
	You will spend $20,018.26 on your house in year 1 $12,357.66 will go towards INTEREST $7,660.59 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
13	$1,006.67	$661.52	$181,677.88
14	$1,003.01	$665.17	$181,012.71
15	$999.34	$668.85	$180,343.86
16	$995.65	$672.54	$179,671.32
17	$991.94	$676.25	$178,995.07
18	$988.20	$679.99	$178,315.08
19	$984.45	$683.74	$177,631.34
20	$980.67	$687.52	$176,943.83
21	$976.88	$691.31	$176,252.52
22	$973.06	$695.13	$175,557.39
23	$969.22	$698.97	$174,858.42
24	$965.36	$702.82	$174,155.60
Totals for year 2
	You will spend $20,018.26 on your house in year 2 $11,834.45 will go towards INTEREST $8,183.81 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
25	$961.48	$706.70	$173,448.90
26	$957.58	$710.61	$172,738.29
27	$953.66	$714.53	$172,023.76
28	$949.71	$718.47	$171,305.29
29	$945.75	$722.44	$170,582.85
30	$941.76	$726.43	$169,856.42
31	$937.75	$730.44	$169,125.98
32	$933.72	$734.47	$168,391.51
33	$929.66	$738.53	$167,652.98
34	$925.58	$742.60	$166,910.38
35	$921.48	$746.70	$166,163.67
36	$917.36	$750.83	$165,412.85
Totals for year 3
	You will spend $20,018.26 on your house in year 3 $11,275.50 will go towards INTEREST $8,742.75 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
37	$913.22	$754.97	$164,657.88
38	$909.05	$759.14	$163,898.74
39	$904.86	$763.33	$163,135.41
40	$900.64	$767.54	$162,367.86
41	$896.41	$771.78	$161,596.08
42	$892.15	$776.04	$160,820.04
43	$887.86	$780.33	$160,039.71
44	$883.55	$784.64	$159,255.07
45	$879.22	$788.97	$158,466.10
46	$874.86	$793.32	$157,672.78
47	$870.49	$797.70	$156,875.08
48	$866.08	$802.11	$156,072.97
Totals for year 4
	You will spend $20,018.26 on your house in year 4 $10,678.38 will go towards INTEREST $9,339.88 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
49	$861.65	$806.54	$155,266.44
50	$857.20	$810.99	$154,455.45
51	$852.72	$815.47	$153,639.98
52	$848.22	$819.97	$152,820.02
53	$843.69	$824.49	$151,995.52
54	$839.14	$829.05	$151,166.47
55	$834.56	$833.62	$150,332.85
56	$829.96	$838.23	$149,494.63
57	$825.33	$842.85	$148,651.77
58	$820.68	$847.51	$147,804.27
59	$816.00	$852.19	$146,952.08
60	$811.30	$856.89	$146,095.19
Totals for year 5
	You will spend $20,018.26 on your house in year 5 $10,040.48 will go towards INTEREST $9,977.78 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
61	$806.57	$861.62	$145,233.57
62	$801.81	$866.38	$144,367.19
63	$797.03	$871.16	$143,496.03
64	$792.22	$875.97	$142,620.06
65	$787.38	$880.81	$141,739.25
66	$782.52	$885.67	$140,853.58
67	$777.63	$890.56	$139,963.03
68	$772.71	$895.48	$139,067.55
69	$767.77	$900.42	$138,167.13
70	$762.80	$905.39	$137,261.74
71	$757.80	$910.39	$136,351.35
72	$752.77	$915.42	$135,435.94
Totals for year 6
	You will spend $20,018.26 on your house in year 6 $9,359.00 will go towards INTEREST $10,659.25 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
73	$747.72	$920.47	$134,515.47
74	$742.64	$925.55	$133,589.92
75	$737.53	$930.66	$132,659.26
76	$732.39	$935.80	$131,723.46
77	$727.22	$940.96	$130,782.49
78	$722.03	$946.16	$129,836.33
79	$716.80	$951.38	$128,884.95
80	$711.55	$956.64	$127,928.31
81	$706.27	$961.92	$126,966.40
82	$700.96	$967.23	$125,999.17
83	$695.62	$972.57	$125,026.60
84	$690.25	$977.94	$124,048.66
Totals for year 7
	You will spend $20,018.26 on your house in year 7 $8,630.99 will go towards INTEREST $11,387.27 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
85	$684.85	$983.34	$123,065.33
86	$679.42	$988.77	$122,076.56
87	$673.96	$994.22	$121,082.34
88	$668.48	$999.71	$120,082.63
89	$662.96	$1,005.23	$119,077.39
90	$657.41	$1,010.78	$118,066.61
91	$651.83	$1,016.36	$117,050.25
92	$646.21	$1,021.97	$116,028.28
93	$640.57	$1,027.62	$115,000.66
94	$634.90	$1,033.29	$113,967.37
95	$629.19	$1,038.99	$112,928.38
96	$623.46	$1,044.73	$111,883.65
Totals for year 8
	You will spend $20,018.26 on your house in year 8 $7,853.24 will go towards INTEREST $12,165.01 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
97	$617.69	$1,050.50	$110,833.15
98	$611.89	$1,056.30	$109,776.86
99	$606.06	$1,062.13	$108,714.73
100	$600.20	$1,067.99	$107,646.74
101	$594.30	$1,073.89	$106,572.85
102	$588.37	$1,079.82	$105,493.03
103	$582.41	$1,085.78	$104,407.25
104	$576.42	$1,091.77	$103,315.48
105	$570.39	$1,097.80	$102,217.68
106	$564.33	$1,103.86	$101,113.82
107	$558.23	$1,109.96	$100,003.86
108	$552.10	$1,116.08	$98,887.78
Totals for year 9
	You will spend $20,018.26 on your house in year 9 $7,022.38 will go towards INTEREST $12,995.87 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
109	$545.94	$1,122.25	$97,765.53
110	$539.75	$1,128.44	$96,637.09
111	$533.52	$1,134.67	$95,502.42
112	$527.25	$1,140.94	$94,361.48
113	$520.95	$1,147.23	$93,214.25
114	$514.62	$1,153.57	$92,060.68
115	$508.25	$1,159.94	$90,900.75
116	$501.85	$1,166.34	$89,734.41
117	$495.41	$1,172.78	$88,561.63
118	$488.93	$1,179.25	$87,382.37
119	$482.42	$1,185.76	$86,196.61
120	$475.88	$1,192.31	$85,004.30
Totals for year 10
	You will spend $20,018.26 on your house in year 10 $6,134.78 will go towards INTEREST $13,883.48 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
121	$469.29	$1,198.89	$83,805.40
122	$462.68	$1,205.51	$82,599.89
123	$456.02	$1,212.17	$81,387.72
124	$449.33	$1,218.86	$80,168.86
125	$442.60	$1,225.59	$78,943.27
126	$435.83	$1,232.36	$77,710.92
127	$429.03	$1,239.16	$76,471.76
128	$422.19	$1,246.00	$75,225.76
129	$415.31	$1,252.88	$73,972.88
130	$408.39	$1,259.80	$72,713.08
131	$401.44	$1,266.75	$71,446.33
132	$394.44	$1,273.74	$70,172.59
Totals for year 11
	You will spend $20,018.26 on your house in year 11 $5,186.55 will go towards INTEREST $14,831.71 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
133	$387.41	$1,280.78	$68,891.81
134	$380.34	$1,287.85	$67,603.96
135	$373.23	$1,294.96	$66,309.00
136	$366.08	$1,302.11	$65,006.90
137	$358.89	$1,309.30	$63,697.60
138	$351.66	$1,316.52	$62,381.08
139	$344.40	$1,323.79	$61,057.28
140	$337.09	$1,331.10	$59,726.18
141	$329.74	$1,338.45	$58,387.73
142	$322.35	$1,345.84	$57,041.89
143	$314.92	$1,353.27	$55,688.62
144	$307.45	$1,360.74	$54,327.88
Totals for year 12
	You will spend $20,018.26 on your house in year 12 $4,173.55 will go towards INTEREST $15,844.70 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
145	$299.94	$1,368.25	$52,959.63
146	$292.38	$1,375.81	$51,583.82
147	$284.79	$1,383.40	$50,200.42
148	$277.15	$1,391.04	$48,809.38
149	$269.47	$1,398.72	$47,410.66
150	$261.75	$1,406.44	$46,004.22
151	$253.98	$1,414.21	$44,590.01
152	$246.17	$1,422.01	$43,168.00
153	$238.32	$1,429.86	$41,738.13
154	$230.43	$1,437.76	$40,300.37
155	$222.49	$1,445.70	$38,854.68
156	$214.51	$1,453.68	$37,401.00
Totals for year 13
	You will spend $20,018.26 on your house in year 13 $3,091.38 will go towards INTEREST $16,926.88 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
157	$206.48	$1,461.70	$35,939.30
158	$198.41	$1,469.77	$34,469.52
159	$190.30	$1,477.89	$32,991.64
160	$182.14	$1,486.05	$31,505.59
161	$173.94	$1,494.25	$30,011.34
162	$165.69	$1,502.50	$28,508.84
163	$157.39	$1,510.80	$26,998.04
164	$149.05	$1,519.14	$25,478.90
165	$140.66	$1,527.52	$23,951.38
166	$132.23	$1,535.96	$22,415.42
167	$123.75	$1,544.44	$20,870.99
168	$115.23	$1,552.96	$19,318.03
Totals for year 14
	You will spend $20,018.26 on your house in year 14 $1,935.28 will go towards INTEREST $18,082.97 will go towards PRINCIPAL

Month	Interest Paid	Principal Paid	Remaining Balance
169	$106.65	$1,561.54	$17,756.49
170	$98.03	$1,570.16	$16,186.33
171	$89.36	$1,578.83	$14,607.51
172	$80.65	$1,587.54	$13,019.96
173	$71.88	$1,596.31	$11,423.66
174	$63.07	$1,605.12	$9,818.54
175	$54.21	$1,613.98	$8,204.55
176	$45.30	$1,622.89	$6,581.66
177	$36.34	$1,631.85	$4,949.81
178	$27.33	$1,640.86	$3,308.95
179	$18.27	$1,649.92	$1,659.03
180	$9.16	$1,659.03	$0.00
Totals for year 15
	You will spend $20,018.26 on your house in year 15 $700.23 will go towards INTEREST $19,318.03 will go towards PRINCIPAL

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

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