Find your monthly payment
What does a monthly mortgage payment look like for you? Get an estimate with some basic information.
Discuss your rates and terms with a local Mortgage Broker:
Using this Calculator
When you’re looking to buy a house, one of the first things you should do is figure out what your monthly mortgage payment will be. This calculator can help you estimate how much house you can afford and start budgeting for homes within your range. It’s important to understand how much money you will pay for your house overall; consider that you’re not just paying the list price of the home – you’re also paying the income on the loan.
Monthly Breakdown
Your monthly mortgage payment can be determined with just the price of the property, the value of your down payment, the length of the loan term, and your interest rate. A change to any of these variables will produce a change in your monthly payment, as well as the overall cost of the mortgage.
Down Payment
Making a larger down payment will reduce your LTV ratio and lead to a lower total mortgage payment and lower monthly payments.
To learn more about financial planning for your future, check out our guide to understanding your financial health.
Note: Rates and values are estimated and subject to change depending on factors including, but not limited to: geographical location, local tax rates, loan type, property type, LTV ratio, and credit score. Calculated total payment does not include closing costs or other fees such as insurance.
This tool is intended for the purpose of estimating a budget and rough total mortgage value. Results are estimates only, we suggest you Speak with a Local Broker for more information
