Mortgage Calculator
Calculate your home loan payments and view detailed amortization schedule
Mortgage Payment Calculator
Understanding Home Mortgages
A mortgage is a loan used to purchase real estate. The property serves as collateral for the loan. Understanding mortgage calculations helps you make informed decisions about home purchases.
Key Components:
- Principal: The amount you borrow
- Interest: The cost of borrowing money
- Down Payment: Upfront payment reducing loan amount
- Amortization: Gradual repayment over time
Mortgage Tips:
- Higher down payment reduces monthly payments
- Good credit score gets better interest rates
- Compare offers from multiple lenders
- Consider the total cost, not just monthly payment