The calculator is able to find any of the five (5) variables involved in a mortgage loan: -
Monthly Payment - Loan Amount - Down Payment Amount - Interest - Term or Number of Payments.
This calculator can run in three (3) modes -
- Simple: The Basic case of a loan that doesn't involve any taxes or insurance.
- Advanced: The same as Simple with added taxes and insurance.
- Complete: The same as above with the addition of any fees that may be involved.
The results of the calculations are split into three (3) sections and multiple parts:
- Summary: Displays the basic loan information and payment break-down.
- Amortization: Displays the amortization table.
- Distribution: Shows the totals and true amounts paid over the life of the loan.
