The purpose of this mortgage calculator is to help prospective home buyers glean a general understanding of the financial burden that is associated with owning a home. While this calculator takes into account the cost of debt for a mortgage loan, as well as the costs for property taxes, homeowners’ insurance, and private mortgage insurance, prospective home buyers will need to subscribe to use the Adkins Residential Home Valuation Analyzer in order to conduct a comprehensive and accurate residential real estate analysis.
KEY PARAMETERS: Prospective home buyers should remember that mortgage loan interest rates for a 30-year fully-amortized fixed-rate mortgage loan reached an all-time high of 18.63% in 1981 and reached an all-time low of 3.31% in 2012. Prospective home buyers should also keep in mind that a 30-year fully-amortized fixed-rate mortgage loan with an interest rate of 5.3040399%, 9.3967767%, or 13.06281084%, would require the prospective home buyers to repay two-, three-, or four- times the home loan amount. Prospective home buyers should keep these mortgage loan interest rates in mind when assessing their home purchase opportunities, particularly in a rising interest rate environment. For more information, please review our Residential Real Estate Property Analysis report.