When you are buying a home, the sales price is just one factor involved in determining the total cost. Your monthly mortgage payment can vary greatly depending on factors like total loan amount, loan term (typically up to 30 years), whether you are paying private mortgage insurance (PMI), whether your loan rate is fixed or variable, your HOA fees and more.
When you complete mortgage payment calculations before you begin the home buying process in earnest, you give yourself a better idea of what type of home you can afford and what your monthly mortgage payments might be.
Use our mortgage calculator to estimate costs for the home or real estate you desire to purchase. When you have an idea of your all-in monthly mortgage payments, you’ll feel better prepared to shop for the right home for your personal situation.