How Much Home Can I Afford?
There are a lot of hidden costs when it comes to purchasing and owning a home. That’s why we have mortgage calculators, so you can determine how much you need to budget for and what the best option is for you.
Monthly Payment & Interest Costs
The first step toward planning for your mortgage is to calculate how much it will cost you every month. Our fixed-rate mortgage payment calculator lets you view monthly payments for any loan amount, at a fixed rate and term length. It also lets you see how much you’ll pay toward interest over the life of your loan. Our adjustable-rate mortgage calculator shows your initial monthly payment and how much financing your home with an adjustable-rate loan will cost.
Rent vs. Own
Sometimes it makes more financial sense to own a home. We can help you determine the difference your monthly payments might be between owning a home and renting with our rent vs. own calculator. It may reveal potential investment or tax benefits, too.
Refinance Break-Even Point
While you may incur closing costs with refinancing, you can save on your monthly house payment and eventually make up the difference. Our refinance break-even point calculator can tell you how long it may take to recover the initial costs of taking out a refinancing loan. It can also help you determine if it’s worth doing based on the number of years you plan on staying in your home.
Making additional payments on your mortgage could save you thousands of dollars in interest in the long run. Plus, you’ll own your home sooner. Find out how soon you can pay off your mortgage with our prepayment calculator. You’ll want to review the terms of your mortgage for restrictions on prepaying.
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The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.