mortage calc

Anyone know of an on-line mortage calculator which will show me a monthly breakdown of amount owed?

Reply to
Jenson
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Follow the "Mortgage" link on the left of the page. Once you've done the calculation (and seen an overview) you can click on the "more details" button (or something like that) to see a monthly breakdown.

HTH.

Reply to
adds21

Don't know, but if you use one of the ones which tell you what the monthly payment P is (given the amount borrowed A, the number of months N in the term, and the monthly interest rate f-1), then

the amount owed when there are M months of the term still remaining is

P * (1 - f^-M) / (f-1)

Better still, don't bother with finding P on-line, or even off-line, the answer is simply:

A * (1 - f^-M) / (1 - f^-N)

Notice in particular how for M=N (i.e. with the full term still to run) this works out at A, as it should, and for M=0 (i.e. at term end) it works out at 0, as it should.

Reply to
Ronald Raygun

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Works very well indeed.

Reply to
aris

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Works really well and a friendly service

Reply to
oliveryeates

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