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Mortgage Principal Calculator

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Description
This calculator figures the principal balance remaining after certain number of years of payment. This is specially useful in determining your principal balance after the introductory period of your ARM loan.
Mortgage Principal Calculator
Loan Information
Loan Amount ($)  Glossary of Terms
Interest Rate (%)  Glossary of Terms
Property Information
Length of Loan (Yrs)  Glossary of Terms
Payments Made (Yrs)  Glossary of Terms

Result
Loan Amount: 300,000.00
Interest Rate: 8.000%
Payments Made/Total: 60/360
Principal Balance: $285,209.57

Glossary of Terms
Loan Amount: Money borrowed that is usually repaid with interest. Return to Top
Interest Rate: The amount of interest charged on a monthly loan payment; usually expressed as a percentage. Return to Top
Length of Loan: The number of years required to pay off the principal and interest of the loan. Return to Top
Payments Made: Mortgage payments you have already paid expressed in years. Example: If you have made 18 monthly mortgage payments, you enter in this field 1.5. The formula is Number of monthly payments made divided by 12. Return to Top

Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts.