How to Use Our Calculators
Our financial calculators are designed to be intuitive, but here’s a quick guide to help you get the most out of them. We will focus on the main halal home financing calculator as an example.
Step 1: Enter Your Financing Details
The main section of the calculator requires a few key pieces of information to estimate your basic payment.
Home Price
This is the total purchase price of the property.
Down Payment
Enter the amount you plan to pay upfront. You can toggle between a percentage (%) of the home price or a fixed dollar ($) amount.
Loan Term
This is the length of your halal home financing in years. 30 and 15 are the most common.
Profit Rate
Enter the annual profit rate you expect to get from a financing provider.
Step 2: Include Additional Costs (PITI)
For a more accurate estimate of your total monthly payment, it’s crucial to include taxes and insurance.
- Check the "Include Taxes & Insurance" box to reveal additional fields.
- Enter your estimated Annual Property Tax. You can use our State Data page to find an estimate for your area.
- Enter your estimated Annual Home Insurance premium.
- You can also add optional monthly costs like PMI (Private Halal Home Financing Insurance) or HOA (Homeowners Association) fees.
Step 3: Analyze Your Results
Once you click "Calculate," the results section on the right will update with a detailed breakdown.
- The large number at the top is your total estimated monthly payment (PITI).
- The pie chart visually breaks down your payment into Principal & Profit, Taxes, Insurance, and other costs.
- The Financing Details section provides a summary of your total financing cost, total profit paid, and your financing payoff date.
- Click the "Amortization" tab to see a full schedule showing how your financing balance decreases over time.
Step 4: Simulate Early Payoff
Want to see how you can save money and pay off your financing faster? Use the early payoff field.
- In the form, find the "Extra Monthly Payment" field.
- Enter any additional amount you could afford to pay each month.
- Click "Calculate" again. The results will now show you how much profit you'll save and how many years sooner you'll be mortgage-free.