Introduction

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 loan

>>> loan = Loan(principal=200000, interest=.06, term=30)
>>> loan
<Loan principal=200000, interest=0.06, term=30>

Get info about the first payemnt.

>>> loan.schedule(1)
Installment(number=1, payment=Decimal('1199.101050305504789182922487'), interest=Decimal('1E+3'), principal=Decimal('199.101050305504789182922487'), total_interest=Decimal('1000'), balance=Decimal('199800.8989496944952108170775'))

Get info about the last payemnt.

>>> loan.schedule(360)
Installment(number=360, payment=Decimal('1199.101050305504789182922487'), interest=Decimal('5.965676867191566115337922814'), principal=Decimal('1193.135373438313223067584564'), total_interest=Decimal('231676.3781099817241058520950'), balance=Decimal('-6.60E-22'))

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