Florida Real Estate and Homes :: Mortgage Calculator
Mortgage Calculator, by Florida Real Estate and Homes
The typical Florida home loan type is a 30-year fixed mortgage. This means the mortgage is repaid through monthly payments made over 30 years (or 360 total monthly payments), at an interest rate that remains the same throughout the life of the loan.
There are other types of mortgage loans, of course, including 20-year and 15-year mortgages, and ARMs, or adjustable rate mortgages, with interest rates that can fluctuate.
You will of course need to figure out how much Florida home you can afford based on your income, down payment and other factors. To help you figure out how much your monthly mortgage payments would be, we've provided a handy mortgage calculator below. You can use it to calculate a variety of scenarios, interest rates, monthly payments and more.
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are municipal property taxes and their effect on the total monthly mortgage payment.