Mortgage Calculator

Fill in home price, down payment, interest rate and loan term to get an estimated monthly loan payment.

$
$
%
%
years
$

Monthly payment is estimated, and should be verified with your lender. Your actual monthly mortgage payment will include additional items including but not limited to taxes and insurance.


Mortgage Information

Buying a home is known to manyas the American dream.   In most cases,many will pursue the American dream with a mortgage.  A mortgage is a loan in which theproperty your seeking to purchase functions as the collateral. The bank ormortgage lender loans you the money (minus any down payments), which you payback -- with interest -- over a predetermined time frame.   Typical mortgage lengths include 30-year, 15-year,10 year as well as other options offered by various lender types. 

If you have not spoken with a lender and plan to use a mortgage for your home purchase, I encourage you to get pre-approved by talking with a lender and start the loan process.  Taking this first step can help with determining how much to spend and allow you to set a budget.  The result is a preapproval document from your lender that helps your realtor assist you in staying within your financial goals.