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.
Lufkin
Lufkin is a city in and the county seat of Angelina County in eastern Texas, United States.[3] This city is 120 miles (190 km) northeast of Houston. Founded in 1882, the population was 35,067 at the 2010 census.[4]
Lufkin is situated in Deep East Texas.
The city is named for Abraham P. Lufkin, a cotton merchant and Galveston city councilman. Lufkin was the father-in-law of Paul Bremond, president of the Houston, East and West Texas Railway which developed the town.
In 1906 while living in Lufkin, writer Katherine Anne Porter married her first husband John Henry Koontze in a double ring ceremony that also saw her sister Gay Porter marry T.H. Holloway. The minister who presided over the ceremony was Rev. Ira Bryce, serving at the time at Lufkin’s First Methodist Church.
In 1907 Allan Shivers the 37th Governor of Texas was born in Lufkin. He served as governor from 1949 to 1957.
Debris from the Space Shuttle Columbia disaster fell over the Lufkin area on February 1, 2003.
Lufkin celebrated its 125th anniversary in October 2007.