Mortgage Loan Calculator


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Mortgage Calculator

Use this mortgage calculator to determine your monthly payment and generate an estimated amortization schedule. Quickly see how much interest you could pay and your estimated principal balances. Enter prepayment amounts to calculate their impact on your mortgage.
By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.



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Mortgage Loan Calculator | Calculate Mortgage Payment | CSB
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Monthly payment:
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**FIG_GRAPHTITLE** Stacked Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.
**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Definitions

Mortgage amount

Original or expected balance for your mortgage.

Term in years

The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

Interest rate

Annual fixed interest rate for this mortgage. Please note that the interest rate is different from the Annual Percentage Rate (APR), which includes other expenses such as mortgage insurance, and the origination fee and or point(s), which were paid when the mortgage was first originated. The APR is normally higher than the simple interest rate.

Monthly payment

Monthly principal and interest payment (PI).

Total payments

Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest

Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type

The frequency of prepayment. The options are none, monthly, yearly and one-time payment.

Prepayment amount

Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment

This is the payment number that your prepayments will begin with. For a one-time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number zero, the prepayment is assumed to happen before the first payment of the loan.

Savings

Total amount of interest you will save by prepaying your mortgage.

Report amortization

Choose how the report will display your payment schedule. Annually will summarize payments and balances by year. Monthly will show every payment for the entire term.


Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Disclosures

Rate and APR may vary based on several factors including, but not limited to, loan amount, state of property location, documentation type, occupancy, property type, loan to value and your credit score. Your final rate may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply. To get a custom quote based on your specific situation, contact a Citizens State Bank representative.

The annual percentage rate (APR), is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on the interest rates and does not take into account other loan specific finance charges you may be required to pay.

Results shown are estimates only. Speak with a Citizens State Bank representative for more specific information.

Payments shown do not include amounts for taxes and insurance. Your actual rate, payment and costs could be higher. Get an official Loan Estimate before choosing a loan.

For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed-rate period, the interest and payments may increase. The APR may increase after the loan consummation. Interest only loans may be available depending on your credit profile and provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter. While making interest only payments, principal is not reduced. At the end of this period your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal.

Tools and calculators are provided as a courtesy to help you estimate your mortgage needs. Results shown are estimates only. Speak with a Citizens State Bank representative for more specific information. Message and data rates may apply from your service provider.

All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available for all amounts. Other restrictions and limitations may apply.