Welcome to the Mortgage Calculator. Please enter your loan information in the form provided. Additional help will appear here as you complete the form.

The principle is the amount that you wish to borrow. Up front costs such as down payment and closing costs are not part of the principle amount.

• The interest rate percentage of the remaining principle that is paid each year.

The term of a mortgage is the number of years that it takes to pay back all the borrowed money.

• A fixed rate mortgage has the same interest rate for the life of the loan.

• With an adjustable rate mortgage (ARM) the interest rate (and therefore the minimum payment) will increase after a specified time period.

Adjustable rate mortgages typically have a lower initial interest rate. They can be worthwhile if you expect to sell your house or refinance before the interest rate increases.

• Extra payments can significantly reduce the amount of time it takes to pay off a mortgage. In addition, extra payments reduce the principle more quickly making the total amount of interest paid during the life of the loan much less.

• Your mortgage has been calculated below. Feel free to adjust the parameters and re-calculate again.

As inflation goes up, the value of money goes down. When you have borrowed money, you would like inflation to go up because it makes it easier to earn the money to pay off your loan. Mortgage rates are always set above the inflation rate so that the lender can make money. Typically, yearly inflation rates are between 2% and 3% in the United States.