Mortgage is a type of loan, where a borrower can borrow a loan amount with any his property such as car, vehicle, jewels or house as a guarantee to the lender. The borrower is called as debtor (owner of the property) and the lender is called as the creditor (owner of loan). This mortgage calculator will help you to find the monthly payment, total tax, Private Mortgage Insurance (PMI), Total Payment and Total Interest you need to pay for your loan amount.
Mortgage is a type of loan, where a borrower can borrow a loan amount with any his property such as car, vehicle, jewels or house as a guarantee to the lender. The borrower is called as debtor (owner of the property) and the lender is called as the creditor (owner of loan). This mortgage calculator will help you to find the monthly payment, total tax, Private Mortgage Insurance (PMI), Total Payment and Total Interest you need to pay for your loan amount.
If borrowed money is not paid within the time period along with the interest , then the creditor can claim the guaranteed product of the debtor.
