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.
Kansas City
Kansas City is the largest city in Missouri and the sixth largest city in the Midwest. According to the U.S. Census Bureau, the city had an estimated population of 475,378 in 2015,[6] making it the 36th largest city by population in the United States. It is the anchor city of the Kansas City metropolitan area, which straddles the Kansas–Missouri border. Kansas City was founded in the 1830s as a Missouri River port at its confluence with the Kansas River coming in from the west. On June 1, 1850 the town of Kansas was incorporated; shortly after came the establishment of the Kansas Territory. Confusion between the two ensued and the name Kansas City was assigned to distinguish them soon thereafter.
Sitting on Missouri’s western border, with Downtown near the confluence of the Kansas and Missouri rivers, the modern city encompasses some 319.03 square miles (826.3 km2), making it the 23rd largest city by total area in the United States. Most of the city lies within Jackson County, but portions spill into Clay, Cass, and Platte counties. Along with Independence, it serves as one of the two county seats for Jackson County. Major suburbs include the Missouri cities of Independence and Lee’s Summit and the Kansas cities of Overland Park, Olathe, and Kansas City.
The city is composed of several neighborhoods, including the River Market District in the north, the 18th and Vine District in the east, and the Country Club Plaza in the south. Kansas City is also known for its cuisine (including its distinctive style of barbecue), its craft breweries and its major league sports teams.