How would I calculate my mortgage payment using only a calculator? Is there a formula?

November 26, 2008

mortgage calculator
Nelson asked:


for example, 30 year fixed monthly payment?
How would I calculate it?
I need a formula.
using a cheap $5 dollar calculator with no financial functions.

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How true are the “how much house you can afford calculators”?

June 23, 2007

how much house can i afford
SJP asked:


I filled out one of the calculators and it says I cannot afford a mortgage payment more than 57,0000 or 300 dollars a month, which isn’t true as my rent is $860. So how true are the how much house you can afford calculators true.

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