Subtract your estimated down payment from the property price
and enter the value in "Loan Amount" (Remember that if the down
payment is less than 20% of the sale price you will have the added
expense of Mortgage Insurance which is not figured into this calculation.)
Enter the current interest rate. Contact Sue Chapin or
your local bank to find that
out!
Estimate Annual Tax and Insurance and enter these values.
To test the effect of different loan periods try alternatives
to the default of "30" years.
Each time you change a value hit "Calculate Now" to see what
the effect is.
