This API is designed to help users calculate financial figures related to mortgages by providing detailed information on monthly and annual payments. It is especially useful for homebuyers, real estate professionals and financial analysts who need to understand mortgage expenses and project future payments. With its comprehensive calculations, this API helps users assess the total costs of homeownership, including mortgage payments, property taxes, homeowners' association (HOA) dues and insurance, although in this particular case, property tax, HOA dues and insurance are shown as zero.
The API provides a breakdown of the monthly payment, including the total payment amount and the mortgage portion, reflecting how much goes toward principal and interest each month. This allows users to determine their monthly financial commitments and budget accordingly. The detailed output also shows that there are no additional costs such as property tax, homeowner's association fees or home insurance included in the monthly payment, simplifying the financial outlook for those only looking at specific mortgage costs.
Overall, this API is an effective tool for assessing the affordability of a mortgage, planning budgets and making informed financial decisions related to homeownership.
To use this endpoint you must indicate
For example
loan_amount = 200000
interest_rate = 3.5
duration_years = 30
Mortgage Calculation - 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": 291, "mortgage": 291, "property_tax": 0, "hoa": 0.0, "annual_home_ins": 0}, "annual_payment": {"total": 3490, "mortgage": 3490, "property_tax": 0.0, "hoa": 0.0, "home_insurance": 0.0}, "total_interest_paid": 469}
curl --location --request GET 'https://zylalabs.com/api/5690/mortgage+simulation+api/7412/mortgage+calculation?loan_amount=10000&interest_rate=3&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 Simulation 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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