Purchase & Financing Information

Sale Price of Home: (dollars)
Percentage Down: %
Mortgage Interest Rate: %
Length of Mortgage: years
Assessed Home Value: (dollars)

The assessed value is used to compute property taxes. On average, properties are assessed at about 85% of their selling price. If you know the actual assessed value for this property, enter it here. If not, leave zero and we'll use 85% of the sale price.

Property Tax Rate: (dollars per $1000)

Property tax rates vary between states and towns. The US average is about $13.80 for every $1000 of the assessed home value.

Condo/Monthly Fee(s): (dollars)
Explain Calculations: Show the calculations and amortization
 

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan. This calculator automatically factors in PMI for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes based on the mortgaged property's assessed valued.

The code for PHP Mortgage Calculator is free and can probably be downloaded from http://davetufts.com