Hypotec Monthly Mortgage Calculator
Use Hypotec Mortgage calculator to estimate your monthly payment. Just enter the Sell price of the home, your down payment, Interest rate and loan duration to calculate your monthly mortgage payment breakdown.
Mortgage Calculator : Key Terms
Sale price is the sum amount of of the home you want to buy. You can also enter the amount that you think you will offer.
This is the initial payment done by the buyer at the time of home purchase. Most home loans require a down payment of at least 3%. Rest of the payment is done on a smaller sum of monthly payment. Making a higher Initial down payment lowers the sum of monthly payment.
Interest rate is the the current mortgage rate as per the market average. Your actual rate may vary based on factors like down payment, Credit score and location.
Your loan duration can affect your interest rate and monthly payments. Your loan duration specifies the time period until the final installment has been cleared. This could be 10 years or 30 years depending on your requirement.