You’ve been paying your monthly mortgage bill regularly for some time now and you’ve built up some equity in your home. At First Millennium Funding we believe home equity loans, or home equity credit lines, are an intelligent way to borrow. The interest rate is usually lower than on other types of loans, especially now when equity loan rates are at historical lows. Moreover, the interest rate is most times tax deductible. (Of course you should consult your tax advisor for the details on tax deductibility.) And we have relationships with both regional and national lenders so you’ll get a choice of equity loans that fit your specific requirements.

All of which means that a home equity loan is one of the smartest ways we know to get money for home improvements—like redecorating or adding a room; to consolidate high interest credit card debt with a low interest, tax-deductible loan; to pay for college or private school; to add money to a retirement fund; or to pay for that long overdue vacation you’ve been planning for what seems like forever. Need any more reasons?
Mortgage Calculator
Sale Price of Home: $
Percentage Down: %
Length of Mortgage: years
Annual Interest Rate: %
Explain Calculations: Show me the calculations and amortization

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

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2 West Main Street, Bay Shore, NY 11706...Tel. 631-969-8800 .Fax. 631-328-1612

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