How to use the Mortgage Calculator

How to use it

1. Step 1.Enter the home purchase price and expected down payment.
2. Step 2.Enter the mortgage rate, term, property tax rate, annual homeowners insurance, and any HOA dues.
3. Step 3.If your down payment is below 20%, enter an estimated annual PMI rate or set it to 0 if it does not apply.
4. Step 4.Add an optional extra monthly principal payment to compare payoff time and interest savings.
5. Step 5.Compare the monthly housing outflow with your budget and lender quote.

What to check next