This home loan calculator is - a calculating tool that automatically determines the effect of a change in one of the variables in a mortgage agreement (for refinance calculation, use Amortization-Calc's mortgage refinance calculator and mortgage payment calculator for Payment Calculation). The variables taken into consideration are namely, home purchase price, down payment, loan term, interest rate and date of first payment. Using this tool, you can determine: whether you can afford the credit; how much the payment amounts will be; how long it will take to pay the mortgage off and; what the financial implications of a change in interest rate will be.

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This mortgage calculator should only be used to estimate your repayments since it doesn't include taxes or insurance.
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