This API is designed to assist users in calculating various financial aspects of mortgages, offering detailed information on both monthly and yearly payment amounts. It serves as a valuable tool for homebuyers, real estate agents, and financial analysts who need to evaluate mortgage expenses and project future payment plans. By providing thorough calculations, the API helps users understand the complete cost of homeownership, factoring in mortgage payments, property taxes, HOA fees, and insurance. For this instance, property taxes, HOA fees, and insurance are set to zero.
The API delivers a detailed breakdown of the monthly payment, specifying the total payment amount and the portion allocated to principal and interest. This feature helps users accurately gauge their monthly financial responsibilities and manage their budgets more efficiently. The output also makes it clear that no additional expenses like property taxes, HOA dues, or insurance are included in the monthly payment, simplifying the financial picture for those focusing on mortgage costs only.
In conclusion, this API is a powerful resource for evaluating mortgage affordability, preparing financial plans, and making well-informed 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/5693/property+pay+insight+api/7415/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 Property Pay Insight 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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