North America Mortgage Calculator

A professional mortgage calculation tool developed by 簡金沅 (Jim Chien)

Calculation Results

Monthly Payment:

Total Payment:

Total Interest:

Loan Amount:

Monthly Property Tax:

Monthly Insurance:

Monthly Payment Breakdown
Principal+Interest
Property Tax
Insurance
Results are for reference only. Please consult with a financial advisor for your actual loan situation. Technical support provided by 簡金沅 (Jim Chien).
North America Mortgage Facts

Understanding how mortgages work in North America is essential for making informed financial decisions when buying property. Here are some basic facts:

  • Fixed-Rate Mortgage: Interest rate remains constant throughout the loan term, resulting in fixed monthly payments.
  • Adjustable-Rate Mortgage (ARM): Interest rate adjusts with market changes, typically starting with a lower initial rate.
  • Loan Terms: Common mortgage terms in North America are 15, 20, and 30 years.
  • Down Payment: A down payment of at least 20% is recommended to avoid Private Mortgage Insurance (PMI).
  • Property Tax: Levied based on property value, with rates varying by location.
  • Home Insurance: Protects your property against damage or loss, typically required by lenders.

This calculator was developed by 簡金沅 (Jim Chien) to help North American property buyers better plan their finances.