North East Mortgage Group

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Mortgage Loan Calculator

Mortgage Loan Calculator Results

Your payment is MONTHLY_PI for TERM years with a rate of INTEREST_RATE.

Mortgage Summary

Loan amount LOAN_AMOUNT

Term TERM years

Interest rate INTEREST_RATE

Monthly payment MONTHLY_PI

Total payments TOTAL_OF_PAYMENTS

Total interest INTEREST_PAID

Prepayment Results

Principal prepayments on your mortgage can save you a great deal of interest. They can also shorten the time it takes to pay off your mortgage, in many cases, by several years. PREPAY_MESSAGE

Prepayment Summary

Amount PREPAY_AMOUNT PREPAY_TYPE

Start with payment PREPAY_STARTS_WITH&NBSP;

Total payments PREPAY_TOTAL_OF_PAYMENTS&NBSP;

Total interest PREPAY_INTEREST_PAID&NBSP;

Interest savings PREPAY_INTEREST_SAVINGS&NBSP;

Payment schedule

**REPEATING GROUP**

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not 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.

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Definitions

Mortgage amount: Original or expected balance for your mortgage.
Interest rate: Annual interest rate for this 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.
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.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not 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.

North East Mortgage Group LLC Two Court Street Suite B Plymouth, MA 02360
Office: (508) 746-9640 Toll Free: (800) 930-9640 Fax: (508) 746-0733

We are licensed in the following states:
Massachusetts Mortgage Broker #MB3930
Connecticut First Mortgage Broker #16595 and Second Mortgage Broker #16596
Rhode Island Loan Broker #20051966LB
New Hampshire Banking Department #10758-MBR