Our mortgage calculator can help you determine what your monthly payment will be for different scenarios
How much house can you afford? Should you borrow the maximum amount a lender will give you? Perhaps, but no one wants to end up “house poor”!
Our mortgage calculator can help you determine what your monthly payment will be for different scenarios. By testing different terms for a mortgage, you can find the option that works best for you. Here’s how it works.
Calculate Your Mortgage Payment
Plug in the price for the home you are buying; also plug in your down payment. Next you can try different mortgage options: length of the loan (15- or 30-year?) and type (fixed rate or adjustable?) as well as the loan rate. As you change your options, you’ll see what your monthly payment will be as well as the total cost of the loan.
It’s also useful to include mortgage insurance, house insurance, property taxes, and homeowner association fees in your calculation to understand the true cost of the home you are buying.
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