You can easily calculate your approximate monthly mortgage payments using a simple amortization of the loan amount over a specific term and interest rate. Your actual monthly payment could be much higher or much lower than the amount that you calculate.
Simple, because mortgage professionals and lenders can offer you a variety of programs with different loan amounts, interest rates and loan terms. The calculator is only for informational and entertainment purposes but can give you a fair approximation; however, it does not tell you how much home you can afford.
Get more! You can compare Renting vs. Owning, Points and more with these handy homeowner calcuators.
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