This API is built to support users in calculating key financial metrics related to mortgages, providing comprehensive details on both monthly and annual payment amounts. It is an essential tool for homebuyers, real estate professionals, and financial analysts who need to assess mortgage costs and forecast future payment scenarios. With its robust calculation capabilities, the API helps users evaluate the full financial impact of homeownership, taking into account mortgage payments, property taxes, HOA fees, and insurance. In this case, property taxes, HOA fees, and insurance are set as zero for simplicity.
The API provides a detailed breakdown of monthly payments, specifying both the total payment amount and how much of it goes toward principal and interest. This breakdown allows users to understand their monthly financial obligations more clearly and plan their budgets effectively. Additionally, the API output highlights that there are no added expenses like property taxes, HOA fees, or insurance in the monthly payment, making it easier for users to focus on mortgage-related costs alone.
Overall, this API is an invaluable tool for assessing mortgage affordability, planning financial strategies, and making informed decisions about homeownership.
To use this endpoint you must indicate
For example
loan_amount = 200000
interest_rate = 3.5
duration_years = 30
Mortgage Planification - Endpoint Features
Object | Description |
---|---|
loan_amount |
[Required] Indicates an loan amount |
interest_rate |
[Required] Indicates an interest rate |
duration_years |
[Required] Indicates the duration of years |
{"monthly_payment": {"total": 5860, "mortgage": 5860, "property_tax": 0, "hoa": 0.0, "annual_home_ins": 0}, "annual_payment": {"total": 70325, "mortgage": 70325, "property_tax": 0.0, "hoa": 0.0, "home_insurance": 0.0}, "total_interest_paid": 10975}
curl --location --request GET 'https://zylalabs.com/api/5694/mortgage+pay+planner+api/7416/mortgage+planification?loan_amount=200000&interest_rate=3.5&duration_years=3' --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 Mortgage Pay Planner 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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