This API is designed to help users accurately calculate mortgage payments, providing detailed insights into both monthly and annual financial obligations. It is especially beneficial for homebuyers, real estate agents, and financial planners who wish to assess mortgage costs and anticipate future payment trends. By performing comprehensive calculations, this API allows users to determine the full cost of homeownership, including principal and interest payments, property taxes, HOA fees, and insurance, although in this case, property tax, HOA fees, and insurance are shown as zero.
The API’s breakdown of the monthly payment specifies the total amount due and the portion allocated to principal and interest, giving users a clear understanding of their monthly financial commitments. The detailed output simplifies budgeting by showing that no additional fees like taxes or insurance are factored in, letting users focus purely on their mortgage obligations.
In conclusion, this API serves as an effective tool for analyzing mortgage affordability, planning budgets, and making informed decisions about home purchases and financial management.
To use this endpoint you must indicate
For example
loan_amount = 200000
interest_rate = 3.5
duration_years = 30
Mortgage Calculator - Endpoint Features
Object | Description |
---|---|
interest_rate |
[Required] Indicates an interest rate |
duration_years |
[Required] Indicates the duration of years |
loan_amount |
[Required] Indicates an loan amount |
{"monthly_payment": {"total": 293, "mortgage": 293, "property_tax": 0, "hoa": 0.0, "annual_home_ins": 0}, "annual_payment": {"total": 3516, "mortgage": 3516, "property_tax": 0.0, "hoa": 0.0, "home_insurance": 0.0}, "total_interest_paid": 549}
curl --location --request GET 'https://zylalabs.com/api/5692/loan+pay+estimator+api/7414/mortgage+calculator?interest_rate=3.5&duration_years=3&loan_amount=10000' --header 'Authorization: Bearer YOUR_API_KEY'
Header | Description |
---|---|
Authorization
|
[Required] Should be Bearer access_key . See "Your API Access Key" above when you are subscribed. |
No long term commitments. One click upgrade/downgrade or cancellation. No questions asked.
To use this endpoint users must indicate a loan amount, interest rates and duration years.
The Loan Pay Estimator API calculates monthly and annual mortgage payments, including interest, and provides insights into total interest paid over time.
The API uses API keys for authentication. To access the API, include your API key in the request header. The API key is provided upon registration and should be kept secure.
There are different plans suits everyone including a free trial for small amount of requests, but itβs rate is limit to prevent abuse of the service.
The total interest paid is calculated by subtracting the principal loan amount from the total payments made over the loan's duration.
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