Mortgage Calculator
If you’re here, you’re on the right track to figuring out how to buy a home. Enter a few numbers below and let the magic ✨ happen, so you can estimate your monthly mortgage payments and more! *Calculations are estimates based on the information you enter.
Try ItTo estimate your mortgage costs, enter your details below.
Monthly Housing Payment Breakdown
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Your mortgage payment goes towards the principal amount of your loan plus interest. Learn how your mortgage payment is calculated.
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Mortgage Payoff Over Time
Hover or tap on the graph to see yearly breakdowns.
Why do my early payments go toward interest rather than principal?
Loans are organized so interest gets prioritized over the first few years of repayment. As time goes on, your balance will go down and your payments toward principal will go up.
How can this mortgage calculator help me buy a house?
Use our Mortgage Calculator to estimate how much money you’ll need each month to pay for your home. Then, check out the stats below for estimated upfront costs.
If you know how much you’ll need to save and what your other out-of-pocket expenses might be, you can better plan to get the house of your dreams.
Recommendation $0
You’ll need available savings with cleared funds (money that’s been in your account for at least 2-3 months) available after you close.
How much money you’ll need to pay on closing day (when you officially sign the contract) to finalize buying a home such as upfront taxes or legal fees.
Take the first step toward buying a home.
Get approved. See what you qualify for. Start house hunting.
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There are a lot of factors that determine how much house you can afford. You’ll want to make sure you can comfortably pay for your home, while maintaining a lifestyle that allows for some fun! So, here are some final things to keep in mind…
Minimum Annual Household Income Recommendation
What you pay the lender each month for your mortgage which includes taxes and other fees like HOA fees (see Monthly Housing Payment Breakdown).
Monthly expenses other than your housing payment such as credit card bills or student loans.
Remaining income once housing and other expenses and debts like credit cards have been paid each month.
Many mortgage advisors recommend the 28/36 rule: Don’t spend more than 28% of your income on mortgage and 36% of your income on debt. Use the resources below to learn even more.
See if your finances are on track.
Take a closer look at your debt-to-income (DTI) ratio to understand your mortgage eligibility and financial health.
Calculate Your DTI Ratio