https://github.com/jlumbroso/mortgage
Mortgage is a simple calculator intended to aid comprehension of the true cost of a home mortgage.
https://github.com/jlumbroso/mortgage
Last synced: 7 months ago
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Mortgage is a simple calculator intended to aid comprehension of the true cost of a home mortgage.
- Host: GitHub
- URL: https://github.com/jlumbroso/mortgage
- Owner: jlumbroso
- License: mit
- Created: 2021-07-30T17:23:05.000Z (over 4 years ago)
- Default Branch: master
- Last Pushed: 2020-09-27T04:42:44.000Z (about 5 years ago)
- Last Synced: 2025-03-24T17:53:31.464Z (8 months ago)
- Homepage: https://mortgage.readthedocs.io
- Size: 104 KB
- Stars: 7
- Watchers: 1
- Forks: 23
- Open Issues: 0
-
Metadata Files:
- Readme: README.md
- License: LICENSE
Awesome Lists containing this project
README
Mortgage
====================
[](https://pypi.python.org/pypi/mortgage)
[](https://circleci.com/gh/austinmcconnell/mortgage)
[](https://codeclimate.com/github/austinmcconnell/mortgage/maintainability)
[](https://codeclimate.com/github/austinmcconnell/mortgage/test_coverage)
[](https://pyup.io/repos/github/austinmcconnell/mortgage/)
[](http://mortgage.readthedocs.io/en/latest/?badge=latest)
[](https://saythanks.io/to/austinmcconnell)
Mortgage is a simple calculator intended to aid comprehension of the true cost of a mortgage.
Installation
--------------------
To install mortgage, simply:
```commandline
pip install mortgage
```
Documentation
-------------------
Documentation is available at [https://mortgage.readthedocs.io](https://mortgage.readthedocs.io)
How To Use
--------------------
This package is intended to help understand the true cost of a mortgage. It also can help you easily compare between different mortgages.
Begin by importing the loan class
```python
from mortgage import Loan
```
Create a simple mortgage
```python
from mortgage import Loan
loan = Loan(principal=200000, interest=.06, term=30)
```
View a summary of pertinent mortgage information by calling the summarize property.
```python
from mortgage import Loan
loan = Loan(principal=200000, interest=.06, term=30)
loan.summarize
>>> Original Balance: $ 200,000
>>> Interest Rate: 0.06 %
>>> APY: 6.17 %
>>> APR: 6.00 %
>>> Term: 30 years
>>> Monthly Payment: $ 1199.10
>>> Total principal payments: $ 200,000.00
>>> Total interest payments: $ 231,676.38
>>> Total payments: $ 431,676.38
>>> Interest to principal: 115.8 %
>>> Years to pay: 30.0
```
Particularly telling is the Interest to Principal ratio. With the mortgage terms above, you will pay **115%** of the original balance in interest! Compare that to the same loan with a 15 year term below
```python
from mortgage import Loan
loan = Loan(principal=200000, interest=.06, term=15)
loan.summarize
>>> Original Balance: $ 200,000
>>> Interest Rate: 0.06 %
>>> APY: 6.17 %
>>> APR: 6.00 %
>>> Term: 15 years
>>> Monthly Payment: $ 1687.71
>>> Total principal payments: $ 200,000.00
>>> Total interest payments: $ 103,788.46
>>> Total payments: $ 303,788.46
>>> Interest to principal: 51.9 %
>>> Years to pay: 15.0
```
In this case, you only pay **52%** of the original loan balance in interest. Obviously, the shorter the term with all else equal, the less interest you'll pay. But it helps to know exactly how much more/less you'll pay.
Run The Test Cases
--------------------
From the top level directory, run the following command:
```
pytest
```
Thank You
--------------------
Thanks for checking out the package! I hope you find it useful.
Feel free to open an issue with suggestions, imporovements, ideas, etc.