When branding, the brand name will be added before “Mortgage Loan Calculator”.If you want to add your brand to the calculator, the *_add_link option must be set to “Yes” (i.e.Valid values for options are the same as the shortcode above. Optional array parameter passed to show_fcmortgage_plugin() Shortcode parameters * sc_size= tiny | small | medium | largeĮxamples (1st includes all options): Add the shortcode in the content area of your page or post and configure shortcode parameters.Add the following code to your template where you want the calculator to appear.To install this plugin as a widget in WordPress v5.8 or later, install first the widget shortcode and then copy this plugin’s shortcode into it. WordPress v5.8 introduced the block editor to the Admin’s widget management screen. If your theme supports widgets, add the plugin to a widget area through the Appearance -> Widgets menu in WordPress.There are 3 mutually exclusive ways you can deploy the calculator to an individual page (though you can use all three methods on different pages within a site): If you translated the plugin from English to another language, please backup your work prior to upgrading the plugin. See usage under installation for details.Įither (a) upload the fc-mortgage-calculator folder with all its files to the /wp-content/plugins/ folder or (b) unzip the plugin’s zip file in the /wp-content/plugins/ folder.Īctivate the plugin through the Plugins -> Installed Plugins menu in WordPress The plugin may be used (a) in a post or page’s content area via a shortcode or (b) used in a widget area or (c) called from any template file. Rebranding with your site’s brand name is supported and encouraged. This plugin is based on and uses the code from my Mortgage Calculator. Supports touch devices and a responsive websites. Select from one of four predefined sizes or you can modify CSS file to customize size and colors. This is ideal if your site attracts visitors from around the globe. Your site’s visitors can select their own currency and date convention used in the loan schedule. The calculator optionally supports points, private mortgage insurance (PMI), property taxes and hazard insurance. It can create a detailed amortization schedule with date based payments and charts. You can generate a printable table like this for you loan by clicking on the button in the above calculator after entering your loan detals.FC’s Mortgage Calculator Plugin can calculate a number of unknown values including affordable home price, monthly loan payment or percentage of cost available as down payment. The following table shows the principal & interest payments for the above loan. Ideally, this figure of $2,363.53 will not exceed more than 28% of your regular monthly income, or else you may need compensating factors to qualify for the loan, or you may be a candidate for a refinanced loan with smaller monthly payments over a longer period of time. Principal and interest alone makes up the vast majority – $1,951.04 – of this number, while the remaining taxes and insurance add on an additional $412.50 to the monthly bill. At an annual interest rate of 4.8% and an annual property tax of $2,500, with two related private mortgage and homeowner's insurance payments at $104.17 and $100 per month, respectively, the total monthly payment due the consumer would be $2,363.53. Take, for example, a fifteen year mortgage term wherein the borrower was taking out $250,000 from the lender. For the sake of accounting and budgeting, you will want to consider the total of these two numbers as the amount of your income that you will actually be slicing out for your mortgage payment every month. This grand total figure itself will be divided up into two sums: the lesser one is your taxes and insurance, while the larger one is the principal and interest on its own. In this calculator, you will plug in the figures relevant to your loan scenario, including total owed, APR, term, taxes and insurance, and receive a number representing your monthly expected payment. When your loan goes through the process of amortization, it affects both the principal and the interest aspects of the borrowed figure as each month the total drops closer towards the end goal of zero when the loan is considered terminated. In the context of real estate mortgages, amortization (literally from the Greek “to die off or die down”) means the graduated lowering of the principal payment of the amount owed as the borrower makes principal and interest (P & I) payments, thereby reducing or “killing off” the total sum of the loan. Amortization is a simply a verbose way of referring to the process of a loan's decrease over its lifetime.
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