Mortgage Calculator

Let us help you determine if it's better for you to rent or buy your new home. Simply fill in the fields below and click the "Calculate" button.

Your Current Situation
Current Monthly Rent Payment:	$
Savings Currently Available to Buy:	$

Type of Loan You Are Interested In
Length of Loan:
Interest Rate:	%
Number of Closing Points: (e.g., 2)
Other Closing Costs:	$
Annual Property Taxes:	$
Annual Homeowner's Insurance:	$

Calculate

Results:
Using your rent payment to pay mortgage, taxes, and insurance, you could get a loan for:
Including savings, points, and closing fees, this would allow you to purchase a home that costs:
Savings available for a down payment after closing costs and fees:
This would give you a down payment % of:

Predatory Loan?

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Finding an affordable home loan with fair terms and reasonable costs is a crucial step towards achieving homeownership. Unfortunately, some lenders offer predatory loans that take advantage of consumers. This brochure identifies the warning signs of predatory loans and offers you tips on how to avoid them. It also provides a list of questions you should ask when shopping for a loan.

Produced jointly by NAR and the Center for Responsible Lending.

Download PDF

Monthly Income
Salary/Wages:	$
Other Income:	$
Monthly Housing Expenses
Property Taxes:	$
Hazard Insurance:	$
Other Monthly Expenses
Auto Payment:	$
Credit Cards/Other:	$
Loan Term & Interest
Loan Term:	Years
Interest Rate:	%

Desired Mortgage Amount:	$
Mortgage Length:	years
Interest Rate:	%
Expected Annual Tax:	$
Total Monthly Payments: (non-mortgage debt)	$

Results
Monthly Principal + Interest:	$
Total Housing Payment:	$
Required Salary:	$

Your Current Situation
Amortization Length:	years
Expected Interest Rate:	%
Loan Amount:	$
Expected Annual Tax:	$
Expected Annual Insurance:	$

Results
Monthly Principle + Interest:	$
Monthly Tax:	$
Monthly Insurance:	$
Total Monthly Payment:	$

Results
You may qualify for a maximum monthly payment (principle + interest) of:	$
You may qualify for a maximum loan amount of:	$


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