Mortgage & Loan Payment Calculator
Mortgage calculators are automated tools that enable users to determine the financial implications of changes in one or more variables in a mortgage financing arrangement. Mortgage calculators are used by consumers to determine monthly repayments, and by mortgage providers to determine the financial suitability of a home loan applicant.[1]
The major variables in a mortgage calculation include loan principal, balance, periodic compound interest rate, number of payments per year, total number of payments and the regular payment amount. More complex calculators can take into account other costs associated with a mortgage, such as local and state taxes, and insurance.[2]
Mortgage calculation capabilities can be found on financial handheld calculators such as the HP-12C or Texas Instruments TI BA II Plus. There are also multiple free online free mortgage calculators, and software programs offering financial and mortgage calculations.
An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process.
The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.
An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.
Butler
Butler is a city and the county seat of Butler County in the U.S. state of Pennsylvania.[2] It is located 35 miles (56 km) north of Pittsburgh and part of the Pittsburgh metropolitan area. As of the 2010 census, the city population was 13,757.[3] Butler was named the 7th best small town in America by Smithsonian magazine in May 2012.[4]
Butler was named for Maj. Gen. Richard Butler,[5] who fell at the Battle of the Wabash, also known as St. Clair’s Defeat, in western Ohio in 1791.
In 1803 John and Samuel Cunningham became the first settlers in the village of Butler. After settling in Butler, the two brothers laid out the community by drawing up plots of land for more incoming settlers.[5] By 1817, the community was incorporated into a borough.[5]The first settlers were of Irish or Scottish descent and were driving westward from Connecticut. In 1802 the German immigrants began arriving, with Detmar Basse settling in Jackson Township in 1802 and founding Zelienople the following year. After George Rapp arrived in 1805 and founded Harmony, larger numbers of settlers followed. John A. Roebling settled Saxonburg in 1832, by which time most of the county was filled with German settlers.