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If you’re doing some research on your own before you talk to a specialist, or you want to get a quick estimate based on some new information you have, this calculator* will give you a detailed mortgage breakdown at the click of a mouse.

*Online calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Three Ways to Use This Calculator

The robust input options and results of this calculator will be helpful whether you are looking at a certain home, undecided about whether you should buy, or trying to determine the best mortgage terms.


Turn a price into a payment.

It’s easy to read the asking price for a home in an online listing or on a big old yard sign, but turning that price into a monthly mortgage payment requires some complicated math. Good thing this calculator does it for you!

With just a few pieces of information and the press of a button, you can see about how much you should expect to pay each month when you buy a home. If you want to fine-tune that estimate, you can factor in various housing-related expenses to make it as accurate as possible.

Estimate Payment


Compare a mortgage to a lease.

Is it more affordable to rent or buy? Many of us scratch our heads over this question at some point in our lives, and this calculator can help you find the answer based on your own local circumstances.

There are many mortgage calculators out there that can tell you how much you’ll have to pay toward your loan’s principal and interest, but that’s not the whole picture. Only a calculator like this one that can factor in property taxes, mortgage insurance and homeowner’s insurance will allow you to make a strong comparison between renting and buying.

Compare Cost


Look at ways to save on interest.

What if you added an extra $4,000 to your down payment? What if you shortened your mortgage term by 5 years? What if you spent six months improving your credit score and then you were able to get your interest rate down by half a percent?

Would these decisions really make that much of a difference? Yes, absolutely! By playing with the inputs in this calculator, you’ll be able to see exactly what an enormous difference these types of choices can make.

Estimate Interest