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Personal Finance
Homeowners Monthly Payment Estimator
It is often useful, when comparison shopping for a mortgage or determining the
appropriate price range of houses to consider, to be able to quickly estimate the monthly
payment given the purchase price, tax rate per $1000, percent down, interest rate and term
of the loan.
The calculation assumes that the assessed value is 100% of the sales price and does not
take into account financing of the closing costs.
A simple keystroke procedure may be used to calculate the monthly payment:
1.
Press
g and press fCLEARG.
2.
Key in the annual interest rate and press
gC.
3.
Key in the term of the loan (in years) and press
gA.
4.
Key in the purchase prices and press
?1.
RPN Mode:
5.
Key in the percent down and press
b-$.
6. Key in the tax rate in dollars per thousand and press
:1§12000zÞ\PP+ .
(A negative sign is the convention for cash paid out).
ALG Mode:
5.
Press
-, key in the percent down and press
b$P:1§.
6. Key in the tax rate in dollars per thousand and press
Þz12000+~³.
(A negative sign is the convention for cash paid out).
Example: What would your monthly payments be on a $65,000 house in a neighborhood
with a $25 per thousand tax rate and a 10 ¾ % interest rate on a 35 year loan with 10%
down?
12c platinum / 12C
RPN Keystrokes
12c platinum
ALG Keystrokes
Display Comments
g gÂ
fCLEARG fCLEARG
10.75gC 10.75gC
0.90
Monthly interest rate.
35gA 35gA
420.00
Months of loan.
65000?1 65000?1
65,000.00
Purchase price.
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