What is the Amortization Calculator?

Q: What is the Amortization Calculator?

The Amortization Calculator is accessible at the Property’s Details page to make it easier for sellers and buyers to compute for the monthly amortizations of a property with ease and convenience. The basic computations follow the industry standard : Loanable Amount = Total Contract Price - Downpayment Monthly Amortization = Loanable Amount * Amortization Factor Rate Amortization Factor Rate = Monthly Interest Rate/1 - (1+Monthly Interest Rate)-Loan Payment Terms in Monthly The Amortization Calculator has default values that are also easily customizable for convenience. You can check the step-by-step instruction on how to customize your calculator here . The Suggested Monthly Income is based on the recommended 40% threshold of the gross monthly income to be allocated for property amortization , a standard practice in the industry to ensure the ability to pay for the monthly amortization comfortably.

Question

Accepted Answer

The Amortization Calculator is accessible at the Property’s Details page to make it easier for sellers and buyers to compute for the monthly amortizations of a property with ease and convenience.

The basic computations follow the industry standard:

Loanable Amount = Total Contract Price - Downpayment
Monthly Amortization = Loanable Amount * Amortization Factor Rate
Amortization Factor Rate = Monthly Interest Rate/1 - (1+Monthly Interest Rate)-Loan Payment Terms in Monthly
1. The Amortization Calculator has default values that are also easily customizable for convenience. You can check the step-by-step instruction on how to customize your calculator here.
2. The Suggested Monthly Income is based on the recommended 40% threshold of the gross monthly income to be allocated for property amortization, a standard practice in the industry to ensure the ability to pay for the monthly amortization comfortably.