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Mortgage Payment Calculator

Mortgage Payment Calculator

User Rating : 1 Stars 2 Stars 3 Stars 4 Stars 5 Stars (19 votes, average: 4.05 out of 5)

Our mortgage loan payment calculator calculates monthly mortgage payments using interest rates & loan amounts you enter. Change the interest rates and loan values to compare different payments.

This mortgage calculator is helpful if you're thinking about refinancing your mortgage, or getting a new home loan, and want to know how much you can afford to borrow or what your payments will be.

Making the monthly payment is an important consideration when shopping for a mortgage or refinancing. Using a monthly payment calculator can help you estimate monthly payments and avoid surprises.


Mortgage Payment Calculator

Result

How to use the Mortgage Payment calculator

Target Your Loan Amount Before Contacting Lenders

Using this mortgage payment calculator can help you target a loan amount that provides a comfortable monthly payment. Using the calculator only requires three simple entries:

  • 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.

If you're comparing several loan offers, use the loan comparison calculator to view loan features side by side. Mortgage calculator tools are free to use and can help you keep on track when shopping for potential mortgage options. Having a few facts and figures on hand will help you and potential lenders focus on appropriate mortgage or refinance options.

Be sure to use all the tools available for your disposal when you are shopping for a new home loan or considering refinancing, including comparing rates. Your home may be the biggest purchase you make in your lifetime, so be sure you are getting the best deal you can. You can compare lenders' best rates available to you here (up to 4 free quotes from competing mortgage lenders), for absolutely no fee and no obligation.

133 Responses to "Mortgage Payment Calculator"
  1. Donna 10, Mar, 2008

    Just what we were looking for. Very handy for a fast and easy calculation.

      Reply»  
  2. Irina 07, Mar, 2008

    Nice & easy. will be better if current interest rate will be displayed, what we enter is just a guess. EDITOR'S COMMENTS: Interest rates vary by region, and they vary considerably depending on your credit rating and the amount of points you buy. Since you're closer to your situation than we are, your guess is actually better than ours could be. However, if you want a real interest rate, use the form we provide on the home page of our site ("Get Free Home Loan Quotes Now"). That tool will help you request free loan quotes from pre-screened lenders that serve your area and loan type. This will allow you to get a realistic interest rate to use for your calculations, and ensure that you get the best possible loan offer for your situation.

      Reply»  
  3. becky rickett 06, Mar, 2008

    this is amazing

      Reply»  
  4. Rao 05, Mar, 2008

    It will be good if you can also show the Principle and Interest payments - - - - EDITOR'S COMMENTS: Done :-) Just click on "View Amortization." Thanks for the suggestion.

      Reply»  
  5. Mary G. 29, Feb, 2008

    Excellent site. No gimmicks. I love it.

      Reply»  
  6. steve williams 26, Feb, 2008

    i just want to know the monthly payment amount. EDITOR'S COMMENTS: No problem! Just fill in the loan amount, interest rate, and repayment period and the mortgage payment calculator will tell you the monthly payment amount in about a quarter of a second! Give it a try!

      Reply»  
  7. Bobby 26, Feb, 2008

    Great tool! Easy and fast

      Reply»  
  8. KimDongJun 21, Feb, 2008

    its nice. very usefuL. nice invention.

      Reply»  

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