Mortgage Library

Mortgage is a library for calculating mortgage details and aids in comparing different loans.

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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.

Indices and tables