How Much House Can You Afford?
Use this Mortgage Calculator to get a quick look at the affordability of a new home. Enter the home’s sale price, and then estimate your down payment and the terms of a mortgage loan – the loan’s interest rate and number of years to pay off it off. While the sale price and terms can change, this mortgage calculator provides a good indicator of how much you’ll pay each month.
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.