BiggerPockets

Hi,
I am trying to calculate monthly mortgage payment that would be required with 25% down or 20 % down with various rates. I am trying to figure out different scenarios of monthly payments by gyrations of the downpayment and the interest rate. I have not found any option for that. I am seeing total mortgage amount in various internet calculators. Does this mean that total mortgage amount is the amount I am loaning from the bank (i.e. total price of house - initial downpayment) to get my figure. e.g what would be my payment for a house say 115000 with a twenty five percent down at the rate of 4.3 percent. I would appreciate any help. Thanks.

And to answer your question:

$115,000 sales price
25% down = $86,250 financed @ 30 years, 4.3% interest = $426.83 P&I

If you have an Android or iPhone, you can find a ton of mortgage calculator apps that you can have right on your phone any time you need them. I have an Android phone and there were at least 50 free mortgage calculator applications available for quick download.

Hope this helps...

Thanks for the helpful information and formula. I appreciate it so much. I wish I had an Android. But I don't. So I need to use the internet links to calculate the payments with various scenario of input parameters.

Hugh Chou has numerous mortgage calculators at his website: http://www.hughchou.org/calc/
Scroll down to "mortgages and loans"
You may have to deduct the downpayments first, then find the other numbers.
FWIW, that site is one of my favorites.
Check out his "WHAT'S MISSING" Loan Calculator at
http://www.hughchou.org/calc/missing.cgi

This calculator finds the missing variable for a loan. If you know the payment, term and the loan amount it calculates the interest rate. If you know the payment amount, loan amount and the interest rate, it calculates the term. Get the idea?
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