Mortgage & Loan Payment Calculator
Mortgage calculators are automated tools that enable users to determine the financial implications of changes in one or more variables in a mortgage financing arrangement. Mortgage calculators are used by consumers to determine monthly repayments, and by mortgage providers to determine the financial suitability of a home loan applicant.[1]
The major variables in a mortgage calculation include loan principal, balance, periodic compound interest rate, number of payments per year, total number of payments and the regular payment amount. More complex calculators can take into account other costs associated with a mortgage, such as local and state taxes, and insurance.[2]
Mortgage calculation capabilities can be found on financial handheld calculators such as the HP-12C or Texas Instruments TI BA II Plus. There are also multiple free online free mortgage calculators, and software programs offering financial and mortgage calculations.
An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process.
The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.
An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.
Albany
Albany is a city in the U.S. state of Georgia, and is the seat of Dougherty County. Located in southwest Georgia,[4] it is the principal city of the Albany, Georgia metropolitan area. The population was 77,434 at the 2010 U.S. Census, making it the eighth-largest city in the state.[1]
The original name of the city was Puddleville.[6] The city’s first postmaster, Joel “Uncle Jack” Parrish, wanted to change the name of the city. It is believed that he saw the name “Philadelphia” on a croaker sack and struck out the first and last four letters to create the present name of Adel.[7]
The Georgia Southern and Florida Railway arrived in Adel in the 1880s. Adel was incorporated as a town in 1889.[8]
On January 22, 2017, a wave of thunderstorms and tornadoes passed through Adel, ultimately killing fourteen. Sunshine Acres, a local mobile home park, experienced severe damage, with over 20 homes destroyed and others damaged; seven residents were killed and an indeterminate number were injured or displaced. [9]