How Much Will My Principal Be?
This calculator figures your principal balance after any number of payments. Input the beginning principal amount, interest rate, length of the loan, and the number of payments to analyze. This information can be helpful when analyzing an adjustable rate product. After 3 years, your balance will reamortize to the adjustable rate. You can take the principal balance and use our payment calculator to analyze your new payment at various interest rates.
Popular Mortgage Questions
Popular Mortgage Glossary Terms
The most recently published value of the index used to adjust the interest rate on an indexed ARM. ...
A mortgage lender that sells all the loans it originates in the secondary market. ...
The house in which the borrower will live most of the time, as distinct from a second home or an investor property that will be rented. ...
All the combinations of interest rate and points that are offered on a particular loan program. On an ARM, rates and points may also vary with the margin and interest rate maximum. ...
A lender who offers mortgage loans directly to the public. ...
A provision of a loan contract stipulating that if the property is sold the loan balance must be repaid. A mortgage containing a due-on-sale clause is not assumable. This prevents a home ...
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...
In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...
The lowest interest rate possible under an ARM contract. Floors are less common than ceilings. ...
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