Hi. You’re about to check out our mortgage loan calculator, which is a little different from our other loan calculators, as this version allows you to see how your payment changes at different levels of interest rates. Check out the post Buying a Home: How Much Can You Afford? to learn more.
A few points:
- It is for guidance only. Actual terms from a lender may differ slightly because of day count
- Only the main terms are shown (loan amount, interest rate, etc). It can be more complicated, but the selection should cover most normal use
- The input fields are shaded blue, so go ahead and make changes to see how it works. The green shaded and bolded areas are the results
- There are numbers pre-populated to help you understand