First, divide the total estimated loan by 1,000 - e.g. an $88,000 loan divided by 1,000 would be 88. Then multiply that amount by the factor shown in the table below, using the rate and term (30 or 15 year) you think you will be likely to be paying. In this example, a loan of $88,000 at 9.0% for 30 years is calculated as follows: 88 x 8.05 (factor for 30 years at 9%) = $708.40. Remember, this is principal and interest only.

PAYMENT FACTOR TABLE

Rate	30 Years	15 Years	Rate	30 Years	15 Years
5.00%	5.37	7.91	8.75%	7.87	9.99
5.25%	5.52	8.04	9.00%	8.05	10.14
5.50%	5.68	8.17	9.25%	8.23	10.29
5.75%	5.84	8.30	9.50%	8.41	10.44
6.00%	6.00	8.44	9.75%	8.59	10.59
6.25%	6.16	8.57	10.00%	8.78	10.75
6.50%	6.32	8.71	10.25%	8.96	10.90
6.75%	6.49	8.85	10.50%	9.15	11.05
7.00%	6.65	8.99	10.75%	9.33	11.21
7.25%	6.82	9.13	11.00%	9.52	11.37
7.50%	6.99	9.27	11.25%	9.71	11.52
7.75%	7.16	9.41	11.50%	9.90	11.68
8.00%	7.34	9.56	11.75%	10.09	11.84
8.25%	7.51	9.70	12.00%	10.29	12.00
8.50%	7.69	9.85

Determining the total payment, i.e. including taxes, homeowner's and mortgage insurance (when applicable), is a bit more complicated as well as imprecise. Please see the table on the next page to find the price most appropriate for you, and then add this figure to the one you have calculated from the above table. there is another section which discusses in detail how taxes and insurance are determined.