To the right is a simple mortgage payment calculator. When entering numbers, just type digits and decimal point. Do not type any other symbols in the blanks.

*Principle* is the amount of the loan. It may not equal the price of a home. For example you may pay $80,000 for a home but also make a $4,000 down payment. In this case the principle for the loan would be $76,000 which is the price of the home minus the down payment.

*Rate* is the yearly interest rate in percent.

*Term* is the number of years it you will be paying on the loan until it is all paid.

The values given by this mortgage calculator are only approximate. You should see your loan advisor at your bank for more accurate information.