Mortgage Payment Calculator
How to use the Mortgage Payment calculator
Target Your Loan Amount Before Contacting Lenders
- Enter a mortgage loan amount, interest rate, and repayment term (how long you’ll be repaying the loan).
- The calculator brings up the results, which show your monthly Priciple Interest (P I) payment, the total amount you’ll repay over the entire loan term, and how much interest you’ll pay over the entire loan term.
- Not only do you learn whether the monthly payment is feasible, but you’ll get an idea of how much a specific loan can cost.
- It’s important to note that mortgage calculator tools, including the loan comparison calculator and amortization calculator, do not include amounts that may be required by your lender for payment of taxes and insurance. Remember to budget for these costs when calculating your monthly budget for housing expenses.
The Big Picture: What Your Loan Can Cost
Another benefit of using our monthly payment calculator is learning how much you can save by refinancing into a shorter loan repayment term; or, if you currently have a 15 year mortgage and want to convert to a 30 year loan, you can see how much your monthly. payments will decrease. Entering different loan amounts, interest rates, and repayment terms can help you discover how to save on a mortgage loan with terms that accommodate your budget.
- Ann 31, Jan, 2010
I am so glad that you don’t charge for this service. It is very helpful Thank You
It comforting to know I did not have to provide any info (phone#, email address etc) to use this site and its many tools. It helped me plan for our home purchase without any hassle and no hidden agenda. Great Tool!
Thanks for putting this together – it’s simple and useful.
This is great stuff!!