Our mortgage calculator can help you estimate your monthly mortgage payment. This calculator estimates how much you’ll pay for principal and interest. You can also opt to includes your taxes and insurance in this payment estimate.

An amortization schedule for a loan is a breakdown of your monthly mortgage payments over the life of the loan. Amortization tables typically break down the principal and interest paid over time.

To view amortization on your loan, click on the tab in the calculator that says "Amortization Schedule."

Your mortgage payment is primarily determined by several key factors, including the loan amount you borrow, the interest rate on your mortgage, the length of your loan (typically expressed in terms of the number of years), and whether you choose a fixed-rate or adjustable-rate mortgage. Additionally, property taxes, homeowner's insurance, and, if applicable, private mortgage insurance (PMI) can also contribute to your overall monthly payment. The combination of these factors influences the total amount you'll need to pay each month to repay your mortgage loan over its specified term.

To lower your monthly mortgage payment, you can consider several strategies. Refinancing your mortgage at a lower interest rate, extending the loan term, or switching from an adjustable-rate mortgage to a fixed-rate one can all help reduce your monthly payments. Increasing your down payment or making additional payments towards the principal balance can also decrease the amount you owe each month. Moreover, appealing property tax assessments or shopping for more competitive homeowner's insurance can lower additional costs. Keep in mind that these decisions should be carefully evaluated based on your financial situation and long-term goals, as they can have implications for the overall cost of your mortgage.

The amount you qualify for in a mortgage is determined by several key factors, including your credit score, which affects your eligibility and interest rate; your income, as a higher income generally allows for a larger loan amount; your debt-to-income ratio, which considers your monthly debt payments in relation to your income; your down payment, as a larger down payment reduces the loan amount you need; and the current interest rates, which impact the terms of your mortgage. Lenders use these factors to assess your ability to repay the loan, and different loan programs and lenders may have varying requirements, so it's important to research and compare options to determine the maximum amount you can qualify for.