PEI Mortgage Calculator This calculator allows you to see how much you will pay in total on your mortgage in Prince Edward Island. Mortgage Amount: Interest Rate: Number of Years: Calculate Mortgage Results function calculateMortgage(){ var mortAmt = document.getElementById("mort_amt").value; var intRate = document.getElementById("int_rate").value; var yrAmt = document.getElementById("yr_amt").value; var totalPayment = (mortAmt * (1+(intRate/100)) * yrAmt); document.getElementById("result").innerHTML = 'Total Payment: $' + totalPayment; } Use a PEI Mortgage Calculator to Take the Stress Out of Calculating Home Loan Payments For prospective homebuyers in Prince Edward Island, mortgage calculators can be a tremendous help as you consider your key financial decisions before purchasing your home. While PEI home loan calculators are especially useful, when dealing with such an important financial transaction, it's best to be as informed as possible. This guide offers an overview of what to expect when researching and shopping for a mortgage on PEI. Compare Mortgage Rates in Prince Edward Island Every home loan will come with its own interest rate, and that rate will determine how much of your monthly mortgage payments go towards paying down the loan’s principal balance versus paying interest charges. Comparing mortgage rates is an important step in the home-buying process, and PEI mortgage calculators can help you get a better understanding of the different loan options that exist. Keep in mind that rates can vary widely depending on the type of loan you select, your credit score, and other factors. Understand All the Costs of Your PEI Home Loan On top of the regular monthly payments you’ll make on your mortgage, there are several other costs that you’ll need to take into consideration. Lenders often charge an application fee, which is a one-time cost up front. Additionally, you may be charged an origination fee and closing costs, which can add up to a significant amount of money. Your PEI mortgage calculator should let you estimate these costs in order tot give you an all-in total cost of your loan. Know Your Payment Deadlines It’s important to remember that your mortgage payments become due on a monthly basis. The payment due date will typically be the same each month, but depending on your loan type and lender, it may vary. Your PEI home loan calculator will tell you, in advance, what your payment due date will be, so you can make sure you won’t be late. Benefits of Using PEI Mortgage Calculators Ultimately, it’s hard to make an educated decision about precisely how much you should expect to pay for your PEI home loan without doing some research and crunching some numbers. PEI mortgage calculators can help you do that. A good home loan calculator will generate results quickly and accurately, without having to consult outside sources. Other benefits include: A PEI mortgage calculator will help you explore different loan options and compare mortgage rates. A home loan calculator allows you to see what your estimated payments will be. Your PEI mortgage calculator can help you budget for the costs of your loan, including closing costs and origination fees. You can use a PEI home loan calculator to get a better understanding of how your loan will be paid off over time. Let PEI Mortgage Calculators Help You Make the Right Decision PEI mortgage calculators can be an incredibly useful tool in helping you figure out what kind of financial plan you’ll need to take on a home loan. By taking the time to research and compare rates and other factors, using a home loan calculator, you’ll be better positioned to make an informed decision when it comes time to sign your loan documents. Doing your research and taking the time to understand all the numbers can be intimidating, but with the help of PEI mortgage calculators, you’ll be ready to find the home loan that’s right for you.