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Mortgage Loan Calculator

Purchase & Financing Information

Mortgage Payment Information

Monthly Payment at Trustco
(Principal & Interest ONLY)
Monthly Payment at other banks
(Principal & Interest, and PMI)
Down Payment
Amount Financed
Annual Interest Paid

The down payment = The price of the home multiplied by the percentage down divided by 100 (for 5% down becomes 5/100 or 0.05)

The interest rate = The annual interest percentage divided by 100

The monthly factor = The result of the following formula:

The monthly interest rate = The annual interest rate divided by 12 (for the 12 months in a year)

The month term of the loan in months = The number of years you've taken the loan out for times 12


The monthly payment is figured out using the following formula: Monthly Payment =

The amortization breaks down how much of your monthly payment goes towards the bank's interest, and how much goes into paying off the principal of your loan.

Amortization For Monthly Payment: $ over Years

*Lender paid Private Mortgage Insurance on loans 89.5% Loan-to-value and over. Applicable to our portfolio mortgage product. If you fail to qualify for that product, you may be offered a mortgage that does have an appraisal fee, borrower-paid PMI, and a tax escrow account.

Please note: We reserve the right to alter or withdraw this product or certain features thereof without prior notification.