Interest Rate Factor Chart

Factors Per $1,000
Interest Rate
Term 15 Years
Term 30 Years
4
7.40
4.77
4.125
7.46
4.85
4.25
7.52
4.92
4.375
7.59
4.99
4.5
7.65
5.07
4.625
7.71
5.14
4.75
7.78
5.22
4.875
7.84
5.29
5
7.91
5.37
5.125
7.97
5.44
5.25
8.04
5.52
5.375
8.10
5.60
5.5
8.17
5.68
5.625
8.24
5.76
5.75
8.30
5.84
5.875
8.37
5.92
6
8.44
6.00
6.125
8.51
6.08
6.25
8.57
6.16
6.375
8.64
6.24
6.5
8.71
6.32
6.625
8.78
6.40
6.75
8.85
6.48
6.875
8.92
6.57
7
8.99
6.65
7.125
9.06
6.74
7.25
9.13
6.82
7.375
9.20
6.91
7.5
9.27
6.99
7.625
9.34
7.08
7.75
9.41
7.16
7.875
9.48
7.25
Interest Rate
Term 15 Years
Term 30 Years
8
9.56
7.34
8.125
9.63
7.42
8.25
9.70
7.51
8.37
9.77
7.60
8.5
9.85
7.69
8.625
9.92
7.78
8.75
9.99
7.87
8.875
10.07
7.96
9
10.14
8.05
9.125
10.22
8.14
9.25
10.29
8.23
9.375
10.37
8.2
9.5
10.44
8.41
9.625
10.52
8.5
9.75
10.59
8.59
9.875
10.67
8.68
10
10.75
8.77
10.125
10.82
8.87
10.25
10.90
8.96
10.375
10.98
9.05
10.5
11.05
9.15
10.625
11.13
9.24
10.75
11.21
9.66
10.875
11.29
9.43
11
11.36
9.52
11.125
11.44
9.62
11.25
11.52
9.71
11.375
11.60
9.81
11.5
11.68
9.90
11.625
11.76
10.00
11.75
11.84
10.09
11.875
11.92
10.19

Start by finding the appropriate interest rate, then look accross to the column indicating the desired term of the loan. That number is the interest rate factor. This is the dollar amount required each month to amortize $1,000 over the specified term. To calculate your principal and interest payment, multiply the interest rate factor by the total loan amount in $1,000s.

Here's an example:

  Interest Rate: 8%
  Term: 30 years
  Factors per $1,000: 7.34
  Total Mortgage: $152.600
7.34 x 152/6 = $1.120

This is a calculation of principal and interest only. It does not include property taxes, ,insurance, association dues, or other charges.