Mortgage Calculator in Florida
Estimate your mortgage payments, including optional taxes, insurance, and PMI, and view an amortization schedule for your loan in Florida.
Results:
Monthly Payment: $0.00
Total Payment: $0.00
Total Interest: $0.00
Mortgage Payment Breakdown
Amortization Schedule
| Month/Year | Principal | Interest | Balance |
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What is the Florida Mortgage Calculator?
The Mortgage Calculator in Florida is a tool designed to help homebuyers and homeowners estimate their monthly mortgage payments. It factors in important details such as the purchase price, down payment, loan term, and interest rate to give a clear view of what your mortgage will cost each month. Additionally, you can include optional costs like property tax, private mortgage insurance (PMI), and property insurance to get a more accurate estimate.
How Does the Florida Mortgage Calculator Work?
This calculator uses the following inputs:
- Purchase Price: The total price of the property you're buying.
- Down Payment: The initial amount you pay upfront towards the property.
- Loan Term: The length of time (in years) you will take to pay off the mortgage, typically 15 or 30 years.
- Interest Rate: The percentage rate at which the loan accrues interest.
- Optional Costs: You can add Property Tax, PMI (if your down payment is below 20%), and Property Insurance to include in the monthly payment calculation.
How to Use the Calculator:
To use this mortgage calculator, follow these simple steps:
- Enter the Purchase Price of the home you want to buy.
- Enter the amount you can put as a Down Payment.
- Select the Loan Term (in years) and the Interest Rate you expect to pay.
- If applicable, enter values for Property Tax, PMI, and Property Insurance (these are optional).
- Click the "Calculate Mortgage" button.
What Does the Calculator Show?
Once you enter all the details, the calculator provides the following results:
- Monthly Payment: The total payment you need to make every month, including principal, interest, and optional costs (if entered).
- Total Payment: The overall amount you'll pay over the loan's entire duration (including interest and optional costs).
- Total Interest: The amount of money you'll pay in interest over the life of the loan.
Additional Features
This mortgage calculator also comes with some useful features:
- Graphical Representation: A pie chart shows how much of your payment goes toward principal, interest, property tax, insurance, and PMI.
- Amortization Schedule: You can view a detailed breakdown of each payment you make during the life of the loan. The schedule can be displayed either monthly or yearly, showing how much of each payment goes to principal, interest, and the remaining balance of the loan.
Why Use the Florida Mortgage Calculator?
This calculator helps you understand how much you will pay for your mortgage each month and over the loan’s term. By including optional costs like property tax, insurance, and PMI, you get a clearer idea of the full cost of homeownership in Florida. This can help you plan your budget and make informed decisions when buying a home.
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