Mortgage Calculator

Mortgage Calculator FAQs

1. What is a mortgage calculator?

A mortgage calculator is an online tool that helps you estimate your monthly home loan payments based on factors like loan amount, interest rate, loan term, and down payment. It allows you to compare different scenarios and make informed decisions before applying for a mortgage.

2. How do I use this mortgage calculator?

Simply enter your loan amount, interest rate, loan term, down payment, and any additional factors like property taxes or insurance. The calculator will generate an estimate of your monthly payment and display a detailed amortization schedule.

3. Can I pay off my mortgage early?

Yes! Making extra payments toward your principal can reduce interest costs and shorten your loan term. However, check with your lender for prepayment penalties before making additional payments.