Mortgage Calculators

Mortgage Payment Calculator

Loan Type:

A mortgage payment calculator is a great tool to help home buyers estimate the cost of monthly mortgage payments. Whether you're interested in mortgage refinancing or looking to see how much tax you can deduct, these free mortgage calculator tools are here to help you. If you're interested in simple calculation of your mortgage use the tool calculator above. Otherwise, look through the different mortgage calculators below.


Purchase Calculators

How Much Can I Afford?

This calculator helps you identify how much you are able to afford when you are searching for a home.

How Much Do I Need to Qualify?

Compare your total monthly obligations including your total mortgage payment to your monthly income.

Should I Buy or Rent?

Our Buy vs Rent Calculator help you analyze the total cost of renting versus the total cost of owning.

Tax Benefits of Buying

This calculator estimates the tax benefit of buying a home.

APR Loan Calculator

Estimate the Annual Percentage Rate (APR) for a mortgage loan using your mortgage rate.

ARM Loan Payment

Compute your initial and estimate your future payments with Mortgage 101 ARM Loan Payment Calculator.

Refinance Calculators

Should I Pay Points - Refinance?

Helps you understand if you should pay loan points during your refinance.

Refinance Debt Consolidation Management

Figure how long before your savings equal the cost of obtaining a new consolidation loan.

Mortgage Principal

Figure your principal balance after any number of payments.

Extra Payments

Figures how long your mortgage will last depending on how much you pay monthly.

Mortgage Payment Amortization

This calculator will amortize your mortgage over the loan period based on your input.


Estimate the Annual Percentage Rate for an Adjustable Rate Mortgage based on input parameters.

The Mortgage 101 Blog

Mortgage101 Blog

Millennials More Likely than Gen Xers to Be Saving, But Not For Down Payments

The country’s youngest adult generation, those aged 18 to 34, otherwise known as Millennials are more likely than both Generation Xers and Baby Boomers to be saving for short and long term financial goals, but saving a for a house is low on the priority list. The latest quarterly renters survey from mortgage giant Freddie Mac found that 92 percent of Millennials are saving for a major purchase (not necessarily a house though) and 94 percent are saving for a vacation. Those rates among Boomers (aged 51+) are 82 percent and 81 percent, respectively while Generation Xers (ages 34-51) are even less likely to be saving for those things with 77 percent and 75 percent respectively. At the same time, renters as a whole are feeling stretched financially with 66 percent of them carrying debt each month. When saving is occurring, emergencies or other unexpected expenses are the top priority for renters with 59 percent. Another 51 percent say retirement is high on the savings list, and 50 percent say they are saving for their children’s college education. Only 39 percent of all renters say they are saving for a mortgage down payment. And most of those are Generation Xers, the most likely group to buy houses in the next three years. Generation X renters are the most likely to be renting single-family homes and 58 percent of Xers plan to purchase their own home within three years. Only 42 percent of Millennials expect to do that and just 33 percent of Boomers are planning on buying a home soon. For renters life continues to get more expensive. “We know rents are rising faster than incomes and now we have data to show that many renters don’t have enough to pay all their debts each month, which is forcing them to make tradeoffs, such as cutting spending on other items,” said David Brickman, Freddie Mac executive vice president of Multifamily. In order to pay for rising rents 51 percent of renters are spending less on essentials, 52 percent say they are also delaying home buying, 35 percent are thinking of getting a roommate and 26 percent they plan to move to a more affordable rental. more

Check Local Mortgage Rates

Today's Average 4.00%
Mortgage Newsletter