Mortgage Calculator

## Mortgage Calculator

You can enter a loan amount and find out what your estimated monthly payments would be...

House Price
Down Payment
Interest Rate
%
Term Length
years

or enter the amount you want to pay per month and find out what size of mortgage you can afford.

Monthly Budget
Interest Rate
%
Term Length
years

mortgage amount:

# Mortgage Glossary

#### Income Property

Real property that is used, or is capable of being use in the normal market, primarily for the production of annual income through leasing of the property.

#### Indefeasible

That which cannot be forfeited or done away with.

#### Indemnity

Protection of exemption from loss or damage.

#### Ingress

Going in; right of entrance.

#### Injunction

An order of a court of equity prohibiting an act or compelling an act to be done.

#### Instrument

A formal written legal document.

#### Insurable Interest

An interest of such a nature that the occurrence of the event insured against would cause financial loss to the insured. Such interests, for example, may be that of an owner, a mortgagee, a lessee or a trustee.

#### Insurable Value

The term is used conventionally to designate the amount of insurance that may be carried, on destructible portions of a property to indemnify the owner in the event of loss.

The date one month prior to commencement of amortization when accrued interest computed on the moneys advanced becomes due.

#### Interest Factor

The decimal equivalent for an interest rate on a unit amount for a certain period of time. Computed by interest rate divided by number of days in basic year, times the number of days accrued.

#### Interest Rate

Interest Rate is the percentage charged on outstanding loan balances.

#### Interim Financing (Construction Financing)

Interim loans are used to provide construction financing until the permanent loan can be funded.

#### Internal Rate of Return

That rate at which the present worth of all present and future investment costs equals the present worth of all present and future investment benefits.

Unalterable.