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Mortgage Calculator

By Patrick   Follow   Tue, 7 Feb 2012, 1:29pm   2,994 views   3 comments
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I've created a mortgage calculator which shows the total P&I payment for a house right up front:

http://patrick.net/housing/mortgage_calculator.php

It's very basic so far. It just does principle and interest payments, not property taxes, PMI, maintenance, etc.

I got the formula from an old free calculator I found, and checked it against the formula on the Wikipedia, so I'm pretty sure it's correct.

It would be nice to have the property tax rates for all states, and somewhere to put in your income to see what the actual after-deductions dollar cost is.

Graphing would also not be too hard to add.

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1. Dubya Follow Befriend 3 comments

   1   6:33am Wed 8 Feb 2012   Share   Quote   Permalink   Like   Dislike (2)   I use this one on my iPhone & iPad... http://itunes.apple.com/us/app/simple-mortgage-payment/id416724293?mt=8 It's super easy to use! Let me know if you like it. Dubya

2. dannybsmith Follow Befriend 18 comments

   2   4:12pm Sun 6 May 2012   Share   Quote   Permalink   Like   Dislike   I would suggest including taxes, insurance, maintenance, etc. in the calculations. Include default values (taxes = 1.25% annually, insurance = 0.5% annually, maintenance = 1% annually). Or allow people to alternatively enter there own values there.

3. Patrick Follow Befriend (54) 5,239 threads 6,173 comments 46 male Menlo Park, CA Premium

   3   4:32pm Sun 6 May 2012   Share   Quote   Permalink   Like   Dislike   OK, will do.