A mortgage calculator is a very helpful tool designed to let you, the buyer, know approximately what your monthly mortgage payment would be on a given home. It takes into account principal loan amount (purchase price minus down payment), interest rate, property taxes, home owner’s insurance, term of the loan, and PMI (mortgage insurance), if applicable.
A lender I work with a great deal is Geoff Martin at Fiber Mortgage and you can check out their mortgage calculator.
They also have some great links on the page that will likely answer any questions you may have!
If you would like more information on calculating your mortgage payment, give them a call or shoot me an email and I will be happy to help!
