How a mortgage calculator helps you

Determining what your monthly commercial property payment will be is an important part of figuring out how much property you can afford. That monthly payment is likely to be the biggest part of your cost of doing business.

Our mortgage calculator lets you estimate your mortgage payment when you buy a commercial property or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:

The commercial loan term length that’s right for you. Longer term lengths, such as a 30-year fixed-rate mortgage, may lower your monthly payment, but you’ll pay more interest over the life of the loan. A shorter term length, such as a 15-year fixed-rate mortgage, reduces the total interest you’ll pay, but your monthly payment will be higher.

If an ARM is a good option. Adjustable-rate mortgages start with a “teaser” interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on holding the commercial property for just a few years. You’ll want to know how much your monthly mortgage payment can change when the introductory rate expires, especially if interest rates are trending higher.

If you’re buying too much commercial property. The mortgage payment calculator can give you a reality check on how much you can expect to pay each month, especially when considering all the costs, including taxes, insurance, and other expenses.

If you’re putting enough money down. With minimum down payments commonly as low as 3%, it’s easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment may be for you.