This calculator is designed to assist you in determining your mortgage payment based on your desired loan amount, the term of your loan and your expected interest rate. The monthly payment amount displayed is calculated with your inputted loan amount and options of 5%, 10%, 15%, and an additional 20% down for you to compare your options.
To use this calculator, please input the amount of your desired loan, the length in term (length of mortgage in years) and the expected interest rate you will receive for your mortgage loan. Then simply press the "Calculate Payment" button. The results will be rounded to the nearest dollar.
The results from this mortgage calculator have been provided to you for comparison only. They have been provided to you as an approximation of what your principal and interest payments will be based on the information you provided. The payment provided is not a guaranteed payment amount but can be used in assisting you as you plan your application process.