Mortgage & Loan Payment Calculator
Mortgage calculators are automated tools that enable users to determine the financial implications of changes in one or more variables in a mortgage financing arrangement. Mortgage calculators are used by consumers to determine monthly repayments, and by mortgage providers to determine the financial suitability of a home loan applicant.[1]
The major variables in a mortgage calculation include loan principal, balance, periodic compound interest rate, number of payments per year, total number of payments and the regular payment amount. More complex calculators can take into account other costs associated with a mortgage, such as local and state taxes, and insurance.[2]
Mortgage calculation capabilities can be found on financial handheld calculators such as the HP-12C or Texas Instruments TI BA II Plus. There are also multiple free online free mortgage calculators, and software programs offering financial and mortgage calculations.
An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process.
The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.
An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.
Blaine
Blaine is a city in Anoka county in the State of Minnesota. The population was 57,186 at the 2010 census.[5] The city is located mainly in Anoka County, and is part of the Minneapolis–Saint Paul metropolitan area.
Interstate Highway 35W, U.S. Highway 10, and Minnesota State Highway 65 are three of the main routes in the city.
Until 1877, Blaine was part of the city of Anoka, Minnesota. Phillip Laddy, a native of Ireland, is recognized as the first settler in Blaine and settled near a lake that now bears his name, Laddie Lake, in 1862. Laddy died shortly after his arrival and his survivors moved on to Minneapolis. Another early settler was the Englishman George Townsend, who lived for a short time near what would today be Lever St. and 103rd Ave.