Mortgage Calculator

The Mortgage Calculator on this page will enable you to calculate your mortgage payments based on amount borrowed and the interest rate.

IMPORTANT NOTE: This only calculates your payment based money borrowed, the interest rate and the length of your loan.

OTHER FACTORS TO CONSIDER AS PART OF YOUR MORTGAGE PAYMENT

Ok. So you know how much MORTGAGE you can afford. Now what about the REST OF YOUR EVERYDAY LIVING EXPENSES?

Typically, your mortgage payment will include a few extras to protect your partner in your home that is, the BANK or MORTGAGE HOLDER.

They will typically escrow for Real Estate Taxes along with one or two months Reserve of Real Estate Taxes. Some may also escrow for Insurance Premiums. At least this gives the lender SOME protection their collateral is protected. And believe it or not, that extra nest egg the bank requires you tp pay as part of your payment, makes it EASIER for you. Why? This way, you are not out spending that money on yourself -it's getting paid to where it has to go. Trust me.

You will also have other expenses - condo or homeowner association fees, utility bills, lawn care and all of those other expenses that come or WILL come into your life over the years. 

REMEMBER, a mortgage is a LONG TERM COMMITMENT. Month after month, year after year. You don't want to be house poor.

Use the following Mortgage Calculator to find out what your Mortgage Payment would be based on the amount you borrow.