Reviewed by: David Chen, CFA
David Chen is a Certified Financial Analyst with over 10 years of experience in mortgage analytics and Puerto Rico equity lending markets.
David Chen is a Certified Financial Analyst with over 10 years of experience in mortgage analytics and Puerto Rico equity lending markets.
Use this free equity mortgage calculator PR to estimate how much equity you can access from your Puerto Rico property and what your new monthly payment will be after a cash-out refinance or home-equity loan.
Equity Mortgage Calculator PR
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Equity Mortgage Formula PR
Available Equity = Home Value × Max LTV – Current Loan
New Loan Amount = Current Loan + Requested Cash
Monthly Payment (P&I) = New Loan × [ r(1+r)^n ] / [ (1+r)^n – 1 ]
Formula Sources: Investopedia | HUD
Variables
- Home Value: Current appraised market value of your Puerto Rico property.
- Current Loan: Remaining principal balance on your existing mortgage.
- Max LTV: Loan-to-value limit set by PR lenders (usually 80% for cash-out).
- Requested Cash: Amount of equity you want to convert to cash.
- New Rate & Term: Interest rate and amortization period of the new loan.