Purchase Calculator: Calculate your monthly mortgage payments
We have more fun tools!
Interested in refinancing your existing mortgage? Use our refinance calculator to see if refinancing is in your future.
Use our refinance calculator to see if refinancing is in your future.
Cool let me seeHow to use the calculator
Punch in your financial details into our purchase calculator machine, and we’ll use some serious arithmetic sorcery to see what kind of home makes sense for your current cash flow situation.
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- Enter your yearly income. In the yearly income field, input the total amount of money that you make in one year. This can be an estimation.
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- Enter your monthly expenses. In the monthly expenses field, input the total amount of money you spend per month. This can be on utilities, car insurance, health insurance, groceries, getting your hair colored, manicures, etc.
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- Enter your annual property taxes. In the annual property taxes field, input the total amount of money that you unfortunately pay in taxes per year.
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- Enter your monthly homeowner insurance. In the monthly insurance field, input the total amount of money that you spend on homeowners insurance per month in case, ya know, something bad happens.
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- Enter your down payment. In the down payment field, input the chunk of change that you initially had to put down to purchase your property.
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- Enter your interest rate. In the interest rate field, input the rate that you have no control over that you wish was lower.
- Enter your mortgage rate. In the mortgage rate field, input the number of years you’re willing to lease out your soul to pay for this house. (It’s usually 15 or 30)
How to use the calculator
Punch in your financial details into our purchase calculator machine, and we’ll use some serious arithmetic sorcery to see what kind of monthly mortgage payment makes sense for your current cash flow situation. Yup, it’s that easy. Try it!
Congrats! You’ve made it this far, now there’s just this silly little button between you and your new home!
Disclaimers:
This calculator is for educational purposes only. Results of this purchase calculator are an estimate only and in no way indicate approval, exact payments or financing of a mortgage loan. Calculator results do not reflect all loan types and are subject to individual program loan limits. Actual available rates and monthly payment amounts are subject to market fluctuations and other factors. Contact us today to understand your purchasing options and apply.
