Calculate Your Mortgage

Estimating your mortgage payment is a snap. Fill in a few fields, and we will do the work for you. Just enter the values for the lighter colored sections (using the tab key on your keyboard to enter values and move to the next field), and the calculator will automatically add the values for you.

NOTE: This form is to be used for estimation purposes only; consult a Mercantile Loan expert at (217) 223-7676 for actual values.


1. Enter the sales price/value of the house
(then tab)
$
2. Amount Financed Percentage (then tab) (Equity less than 20% requires Mortgage Insurance and escrows)   %
This is your down payment $
Estimated Closing Costs

Closing costs include fees charged for appraisals, credit reports, title insurance, inspections, flood insurance, and underwriting, etc.
Closing costs vary depending on the type and term of your loan. Please contact a Mercantile Bank mortgage expert at 217-223-7676 for an accurate estimate of what your particular closing costs may include.

$
3. Enter the number of points (then tab). Can also be entered by clicking on the rates below.  
Estimated Closing Costs (down payment + closing costs) $
     
4. You can change the interest rate and number of months here (then tab).   %
months
This is the amount you are financing $
This is your monthly payment $

**Closing costs include fees charged for appraisals, credit reports, title insurance, inspections, flood insurance, and underwriting, etc.
Closing costs vary depending on the type and term of your loan. Please contact a Mercantile Bank mortgage expert at 217-223-7676 for an accurate estimate of what your particular closing costs may include.

For more financial calculators, click here.