Mortgage calculator online: calculating a mortgage with a payment schedule and overpayment

Mortgage calculator allows calculate mortgage online, displaying the amount of payment and overpayment, as well as display a schedule for the monthly repayment of a mortgage loan.

A mortgage is a loan issued for the purchase of real estate secured by acquired property. Moreover, such a loan is issued for a sufficiently long period. During this time, the borrower repays both the main debt and interest. Read more about loans secured by real estate in the article here.

Before the credit institution gives the borrower money, the parties to the transaction sign a mortgage agreement. This agreement obligatorily prescribes which property will be acquired with the issued funds.

It is important to understand: until the loan is fully repaid, this property will be pledged by the lender.

If for some reason the borrower stops paying the loan he received, the property will become the property of the bank.

In order to prevent such an unpleasant situation, the borrower must calculate all its parameters and evaluate its real possibilities even before receiving a mortgage. Not everyone can do financial calculations on their own, it is much easier to use a special mortgage calculator online for this purpose.

1. Mortgage calculation with a mortgage calculator

To make mortgage calculations, you will need enter estimated loan amount, as well as loan terms. Also necessary choose repayment scheme. Based on these data, the program will calculate monthly payments.

You can get data using a mortgage calculator in just a minute. The advantage of such calculations is the help in choosing a bank and the most suitable lending program.

2. Calculation of the interest rate on a mortgage

Often in ads you can find an advertisement - “Buy an apartment for 5 500 000 a mortgage for 35 thousand rubles a month for 20 years. " In this case, thanks to the calculator below, you can calculate the interest rate on the mortgage.