Mortgage Calculator

Use the mortgage calculator below to get an estimate of how much house you can afford. Or, find a lender who can get you prequalified for the best type of loan that suits your situation (click here to Find A Lender).

Two ways to use this calculator:

Option #1 - Enter the Purchase Price of the home and your down-payment (or enter the amount you expect to finance and leave the down-payment blank), enter the term of the loan and the interest rate you expect to pay, then click on the "Calculate Payment" button to determine the monthly payments for the home.

Option #2 - Enter the amount of monthly payment you want to pay in the "Monthly Payments" field, enter the term of the loan and the interest rate you expect to pay, then click on the "Calculate Mortgage" button to determine the size of mortgage you can afford.

Now that you have an approximate idea of how much property you can buy according to your budget, you should now contact a lender in order to get formally prequalified. This will confirm exactly how much home you can afford to finance and it will allow you to submit a prequalification letter with your offer making it stronger and more attractive to sellers. (click here to Contact A Lender…Free & No Obligation).