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

Low Inventory, Market Volatility Hold Back Existing-Home Sales

Sales of existing U.S. homes declined in October, stymied by a lack of affordable inventory as well as consumer concern about the economy, according to the National Association of Realtors. On the bright side, mortgage rates remained low and distressed sales made up the lowest share over seven years. Total existing-home sales fell 3.4 percent to a seasonally adjusted rate of 5.36 million in October, down 5.55 million in September. Compared with one year ago, sales are up however, with a 3.9 percent gain from 5.16 million in October 2014. The number of homes for sale dropped 2.3 percent from September to 2.14 million existing properties, and even fell 4.5 percent from the year before. At the current sales pace there is 4.8-month supply of homes. Realtors consider the market balanced between buyers and sellers when there is a 6-month supply. “New and existing-home supply has struggled to improve so far this fall, leading to few choices for buyers and no easement of the ongoing affordability concerns still prevalent in some markets,” said NAR chief economist Lawrence Yun. “Furthermore, the mixed signals of slowing economic growth and volatility in the financial markets slightly tempered demand and contributed to the decreasing pace of sales.” Yun was hopeful for the future though. “As long as solid job creation continues, a gradual easing of credit standards even with moderately higher mortgage rates should support steady demand and sales continuing to rise above a year ago,” he said. During the month, long-term mortgage interest rates fell, keeping mortgage loans affordable for those who could qualify. The average rate on a 30-year fixed rate mortgage fell to 3.80 percent in October from 3.89 percent the month before. The median home price rose to $219,600, up 5.8 percent from the previous year, and the 44th straight month of year-over-year increases. One of the highlights of the sales report was the decline in the share of distressed properties – short sales and foreclosures – fell to its lowest level since the NAR started tracking in October 2008. Distressed sales fell to just 6 percent, down from 9 percent in October 2014, a sign of renewed market health as fewer and fewer homeowners are falling into foreclosure and lenders have worked through a majority of their distressed inventory. more

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