Mortgage Library¶
Mortgage is a library for calculating mortgage details and aids in comparing different loans.
How To Use¶
This package is intended to help understand the true cost of a mortgage. It also can help you easily compare between different mortgages.
Begin by importing the loan class
>>> from mortgage import Loan
Create a simple mortgage
>>> loan = Loan(principal=200000, interest=.06, term=30)
>>> loan
<Loan principal=200000, interest=0.06, term=30>
View a summary of pertinent mortgage information by calling the summarize property.
>>> loan.summarize
Original Balance: $ 200,000
Interest Rate: 0.06 %
APY: 6.17 %
APR: 6.00 %
Term: 30 years
Monthly Payment: $ 1199.10
Total principal payments: $ 200,000.00
Total interest payments: $ 231,676.38
Total payments: $ 431,676.38
Interest to principal: 115.8 %
Years to pay: 30.0
Particularly telling is the Interest to Principal ratio. With the mortgage terms above, you will pay 115% of the original balance in interest! Compare that to the same loan with a 15 year term below
Introduction¶
API Documentation¶
Looking for information on a specific function, class, or method? Find what you’re looking for below.