monthly mortgage payment calculator

I tried to make a mortgage calcultor but my numbers do not jive with the
realtors web sites. My formula= (100,000*.06)/12 does not include the
interest so my calculations were too low.

How would I figure out a monthly payment for a $100,000 loan at 6% over 30
years? Is there a special formula?

Thanks.

-Raza

Try this: http://www.officearticles.com/downlo...calculator.zip
I created it for a "real" realtor, so I assume it's accurate.
************
Anne Troy
www.OfficeArticles.com

"Raza" <[email protected]> wrote in message
news:[email protected]...
>I tried to make a mortgage calcultor but my numbers do not jive with the
> realtors web sites. My formula= (100,000*.06)/12 does not include the
> interest so my calculations were too low.
>
> How would I figure out a monthly payment for a $100,000 loan at 6% over 30
> years? Is there a special formula?
>
> Thanks.
>
> -Raza

Hi,

Mnthly paymt= 100000*(0.06/12)*((1+0.06/12)^360)/(((1+0.06/12)^360)-1)

Regards,
B. R. Ramachandran



"Raza" wrote:

> I tried to make a mortgage calcultor but my numbers do not jive with the
> realtors web sites. My formula= (100,000*.06)/12 does not include the
> interest so my calculations were too low.
>
> How would I figure out a monthly payment for a $100,000 loan at 6% over 30
> years? Is there a special formula?
>
> Thanks.
>
> -Raza