# Calculators

Farmers and Merchants Bank offers complimentary online calculators as a resource to assist you in investment/savings calculations, financial planning, and loan payment calculations for mortgage loans.

FDIC EDIE Calculator

Help
Before Tax Income is the total of all your income before taxes. In this calculator you may use either your monthly income or your annual income. (Any number less than 10000 would be considered a monthly income figure.)

• Down Payment is the amount of the down payment you have already saved.
• Mortgage Rate is the interest rate the bank would charge you for your loan. In this calculator, you do not have to include the % sign.
• Number of Years is the length of the mortgage you are considering.
• "Calculate". When you press the Calculate button, the calculator will calculate the amount of housing you can afford.

Home Mortgage Calculator
Help
• Purchase Price is the total price for the house you wish to buy.
• Down Payment is the amount of the down payment you will pay directly to the seller.
• Loan Amount is the Purchase Price minus the Down Payment. In this calculator, it is calculated automatically when you fill in a purchase price and a down payment.
• Interest Rate is the interest rate the bank will charge you for your loan. In this calculator, you do not have to include the % sign.
• ARM Cap. If you have an Adjustable Rate Mortgage, this is the lifetime cap for your interest rate (i.e. if you have a cap of 5%, then your interest rate cannot go above or below 5% of the original interest rate.) In this calculator, you do not have to include the % sign.
• Number of Years is the number of years (usually 15 or 30) that your mortgage will last.
• Calculate. When you press the Calculate! button, the calculator will calculate the monthly mortgage payment for your loan, as well as an amortization schedule (which shows you how much interest and principal you pay off each year.)

Home Refinance Calculator
Help
You can use this calculator to help you assess the best terms to refinance your existing mortgage.
• Estimated Current Value of Home is the estimate of the property value of the property that you want to refinance.
• Current Mortgage Balance is the pay off amount of the mortgage you have presently.
• Number of Payments Remaining is the number of payments you must make before your present mortgage is payed off.
• Current Monthly Payments is the amount you are currently paying a month, on your mortgage.
• Estimated Closing Costs is the amount you estimte your refinanced mortgage closing costs will be.
• Amount of Cash Out is the amount of equity you'd like to recieve as cash, at closing
(NOTE: this can significantly alter the final amount of the mortgage and your monthly payments.)
• Loan-To-Value Ratio (LTV) is the ratio of your house value to the amount you are attempting to finance. (LTV = Loan Amount/Value of Home) If this ratio is too high you will not be able to take the Cash Out option, and may be required to acquire mortgage insurance.
• Current Refinance Interest Rate is the current rate your financial institution is charging in interest for mortgage refinancing.
• Term of Refinance (in years) is the number of years you would like to take to repay this mortgage loan.

Loan Calculator
Help
• Purchase Price is the total price for the purchase you are making.
• Down Payment is the amount of the down payment you will pay directly to the seller.
• Loan Amount is the Purchase Price minus the Down Payment. In this calculator, it is calculated automatically when you fill in a purchase price and a down payment.
• Interest Rate is the interest rate the bank will charge you for your loan. In this calculator, you do not have to include the % sign.
• Number of Months is the number of months your loan will be for.
• Calculate. When you press the Calculate button, the calculator will calculate the monthly loan payment for your loan, as well as an amortization schedule (which shows you how much interest and principal you pay off each year.)

Retirement Calculator
Help
• Purchase Price is the total price for the purchase you are making.
• Down Payment is the amount of the down payment you will pay directly to the seller.
• Loan Amount is the Purchase Price minus the Down Payment. In this calculator, it is calculated automatically when you fill in a purchase price and a down payment.
• Interest Rate is the interest rate the bank will charge you for your loan. In this calculator, you do not have to include the % sign.
• Number of Months is the number of months your loan will be for.
• Calculate. When you press the Calculate button, the calculator will calculate the monthly loan payment for your loan, as well as an amortization schedule (which shows you how much interest and principal you pay off each year.)

## POST-RETIREMENT

Savings Calculator
• Purchase Price is the total price for the purchase you are making.
• Down Payment is the amount of the down payment you will pay directly to the seller.
• Loan Amount is the Purchase Price minus the Down Payment. In this calculator, it is calculated automatically when you fill in a purchase price and a down payment.
• Interest Rate is the interest rate the bank will charge you for your loan. In this calculator, you do not have to include the % sign.
• Number of Months is the number of months your loan will be for.
• Calculate. When you press the Calculate button, the calculator will calculate the monthly loan payment for your loan, as well as an amortization schedule (which shows you how much interest and principal you pay off each year.)

Calculate monthly deposit to reach Savings Goal:

Months % Annually
Calculate value of monthly deposit

Calculate future value of deposit:

Months % Annually
Calculate value of monthly deposit