Try our smart mortgage calculator to manage and calculate your budget properly for your next real estate transaction. If you have questions on how mortgage payments work, please do not hesitate to contact one of our Real estate funding solutions’ team members.
- For the “Total Amount” box, enter your total loan amount (for purchases and refinances)
- Under the “Down payment” section, enter your down payment amount (for purchases and refinances)
- For the “Interest rate” box, enter your Annual Percent Rate (APR)
- Under the “Loan Term” section, enter the number of years for your mortgage
- Once you complete all the sections, click the “Calculate mortgage” button
When it’s time to purchase your home, it’s crucial to understand how much you can afford. Our smart mortgage calculator helps you determine your monthly mortgage payment. You can run scenarios best suited to your financial situation to plan out your monthly payment that you can afford. It can also help you decide:
- Does the purchase price fit within your current budget?
- Are you putting enough money as a down payment?
- How long of a mortgage is good for you?
Here are a few suggestions on how you can reduce your monthly mortgage payment:
- Increase the loan term
- Buy a less expensive home
- Try to put down a larger down payment