This mortgage calculator can be used to figure out monthly payments of a home mortgage loan based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. The calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20 percent is put as a down payment. it also takes into consideration the town property taxes and their effect on the total monthly mortgage payment. Calculator code in PHP is realeased under the General Public License(GPL).
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