Mortgage Payment Calculator
Calculating your mortgage payments has been made easy by mortgage calculators, so that you may budget your finances prior to purchasing.
The three main factors that go into estimating how much your mortgage payments will be are:
1. The total mortgage amount: This is the price of your new home, less the down payment, plus mortgage insurance, if applicable.
2. The amortization period: This is the total life of your mortgage, and the number of years the mortgage payments will be spread across.
3. The mortgage rate: This is the rate of interest you pay on your mortgage.