Enter the required details into the Mahogany Homes calculator to estimate your monthly payments or costs based on your financial inputs.
Mahogany Homes Calculation Formula
The Mahogany Homes calculator uses the following formulas to estimate your financial costs:
Monthly Payment = (Loan Amount * (Interest Rate / 100 / 12)) / (1 - (1 + (Interest Rate / 100 / 12))^(-Loan Term * 12))
Monthly Cost = ((Property Value - Down Payment) * (Loan Interest Rate / 100 / 12)) / (1 - (1 + (Loan Interest Rate / 100 / 12))^(-Loan Duration * 12))
Variables:
- Monthly Payment is the estimated monthly payment ($)
- Monthly Cost is the estimated monthly cost ($)
- Loan Amount is the amount borrowed ($)
- Interest Rate is the annual interest rate on the loan (%)
- Loan Term is the duration of the loan in years
- Property Value is the total value of the property ($)
- Down Payment is the initial payment made