Monthly Mortgage Payment Calculator

monthly-mortgage-payment-calculatorAre you looking at buying a house? If so, it is a must to know what your monthly payment will be. Luckily I have a monthly mortgage payment calculator that will show you exactly what your monthly mortgage payment will be.

Directions:

To use the monthly mortgage payment calculator, simply enter the following into the fields below:

Mortgage Amount: This is the amount of your mortgage. Be sure to subtract out any down payment you are making on the loan.

Interest Rate: Enter the interest rate of your mortgage.

Mortgage Term: Enter how long your mortgage is for. Note that you should enter in the length in years, not months.

Housekeeping Items

This monthly mortgage payment calculator will show you what you can expect your monthly payment to be. Your actual monthly payment will most likely be higher because you will be adding in insurance and taxes that will be escrowed into your payment.

For help with paying off your mortgage early, read this post. If you are looking for the lowest interest rate possible, be sure to compare interest rates using this chart (halfway down the page).

Disclaimer: Knowing your monthly mortgage payment before you sign on the dotted line is important. If you do not know, you could easily find yourself overextended and have a hard time paying your bill every month. This is what happened to a lot of homeowners back when the housing bubble burst.

If you have any questions about this monthly mortgage payment calculator or with debt in general, please reach out to me through my contact page.

Monthly Mortgage Payment Calculator

Mortgage Calculator