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The Best Mortgage Calculators On the Web!
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Please try our Java loan and mortgage calculators. They take a minute to load, but they are worth it! 

Each calculator has dynamic graphs and charts that change as you enter different information. Try each calculator with different interest rates, loan amounts, and payment schedules. 

The mortgage repayment schedule and other reports are fully customizable – just for your home, your interest rate, your loan amount, your taxes, and more. 

Would you like a print out, for your records and future reference? Each calculator includes a View Report button. Click it, hit print, and you have a report, customized just for you… 

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Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.

Monthly Payments & Schedule
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Definitions
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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 you 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 assume to happen before the first payment of the loan.
Savings
Total amount of interest you will save by prepaying your mortgage.

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Real Estate Tips
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Real Estate Contracts >Personal Property

When you purchase a property, it usually includes the land and everything attached to it, such as buildings, trees, shrubs, etc. Most buyers are only interested in purchasing the real estate, not the owner’s personal property. What happens when personal property has become a part of the real estate? Is it actually a "fixture" which will now convey to the buyer with the real estate?

There are three tests which usually need to be satisfied. Has the personal property been permanently annexed to the real estate? Is it intended to become part of the real estate? What is the local custom? Fixtures may include shades, heaters, ranges, screens, storm windows, lighting fixtures, etc. To save misunderstanding at the closing–and perhaps the sale–it is important that the seller spell out specifically in the sales agreement what will go to the buyer as part of the property.
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Real Estate Trivia
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Q . Where is the world’s oldest castle located?

A . The castle at Gomdan, Yemon, dating from before A.D. 100, is considered the oldest castle; it originally had 20 stories.

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Jer Collins and Associates
Your Real Estate Consultants For life

“Call Into Collins”
Coldwell Banker Legacy and Previews Exceptional Properties
10300 Cottonwood Park NW
Abuquerque, NM 87114
Direct: 505-710-5478
E-Fax: 505-468-0456
Main: 505-898-2700
Email: redbooth@gmail.com

www.searchforsalehomes.com is brought to you by Jer Collins and Associates, real estate for 
Albuquerque, Rio Rancho and Corrales, New Mexico

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