Illinois Mortgage Rates - Monthly Payment Calculator. Homeloan Illinois

Thursday, November 20, 2008

Payment Calculator
This monthly mortgage payment calculator allows you to easily compare two loan scenarios to determine which one is best for you. Please contact us if you require a more detailed analysis.


	Scenario 1
		Use side-by-side comparison

Purchase Price	$

Down Payment	$	or %

Loan Amount	$

Interest Rate

Term of Loan (years)		(default is 30)

Property Taxes (annual)	$		or use best guess *

Homeowner's Insurance (annual)	$		or use best guess *

Use escrow account for taxes and insurance?	yes no (required if under 20% down pmt.)

*	Best guess is 1.5% of sales price for Taxes and $500/yr. for Insurance.
-	Calculations assume property is a single family residence and do not include any homeowner's association dues (as are standard with condominiums).
-	Mortgage Insurance (PMI) is required if down payment is under 20%.
-	If you choose not to have an escrow account you must still pay taxes and insurance, they're just not included as part of your monthly payment.
-	For other questions about monthly payments, see Frequently Asked Questions


Scenario 2 (optional)
copy scenario 1 info

$

$	or %

$



	(default is 30)

$		or use best guess*

$		or use best guess*

yes no (required if under 20% down pmt.)