Using a Mortgage Loan Payment Calculator: Needed Information :

When using a mortgage loan payment calculator, you will need to input specific information. Note that the result you get from the calculator will depend entirely on the accuracy of the information you provide, so be careful about providing inaccurate data. The information you need to provide includes:

Potential amount to be borrowed. How much money do you want to borrow, exactly? Be completely specific about the amount. Keep in mind that the value you entered here will be compared to the value of the property to be mortgaged.

Value of your property. You must have a decent estimate of the value of the property to be mortgaged. The amount you will be able to borrow will most likely approximate this number, or perhaps a little less. 
Term of the mortgage. As you already know, the interest rate your mortgage loan will carry will depend on how long you intend to borrow the money. As a general rule of thumb, yearly interest rates will be lower the longer the term of the mortgage. This does not necessarily mean that you will save money by taking on a long-term mortgage, because the longer you take it to pay it off the more money the bank will make off the deal.

  Repayment scheme. You will most likely choose between a capital repayment plan and an interest-only plan.
Customer Information. Not all calculators have this option, but some do. If this is the first time you are taking out a mortgage loan, this will be useful when getting customer assistance.

Loans

Financial Services