Instructions for using this Monthly Mortgage Payment Calculator
The values in the fields below are example values.
To begin, enter the purchase price and select one of the down payment options. Depending on your selection, you will see one or two additional fields. Fill in the appropriate down payment information. Finally, enter the interest rate and loan term in months to auto-calculate the monthly mortgage payment.
As you enter your values, the calculator works continuously in the background to calculate monthly mortgage payment. Feel free to play with the numbers and try various what-if scenarios so you can see the effect on your monthly mortgage payment if you change one or more values.