The tools
Mortgage calculators
Two free tools. Work out what you can afford, and what the monthly payment would actually be once taxes and insurance are in.
- No credit check
- No documents
- Free
- Home price
- Down payment
- Interest rate
- Monthly payment
Both tools
Two tools
They answer opposite questions
Two free calculators. Neither stores anything, and neither touches your credit.
They are estimates. When you want a number a seller will accept, get a verified pre-approval.
Which calculator you need
They answer opposite questions
Both are estimates. A verified pre-approval gives the number a seller will accept.
The tools
Mortgage calculators
Affordability calculator
Work backward from your income, debts and deposit to the price you can support. Includes taxes and insurance.
Mortgage payment calculator
Set a price and see the full monthly payment: principal, interest, taxes, insurance, mortgage insurance and dues.
An estimate is not an approval
These run on numbers you type. A pre-approval runs on verified income and assets.
Get the real numberBefore you start
What a calculator can and cannot tell you
Both tools run on numbers you type in. That makes them useful for narrowing a price range and useless as proof to a seller.
A calculator does not know your credit score
Or whether your income can be documented, what is actually in your accounts, or which program you qualify for.
It assumes every number you enter is right
And that a lender will agree with you. That gap is why buyers fall in love with a house and then find their real number is lower.
Which to use
They answer opposite questions
Affordability calculator
You know what you earn and owe, and you want a price range. It works backward from your debt-to-income ratio to a home price, including property tax and insurance in the monthly figure.
Monthly payment calculator
You have found a listing and want the real monthly cost. It breaks out principal, interest, property tax, homeowners insurance, mortgage insurance and association dues.
Neither stores anything you enter, and neither touches your credit.
The assumptions
What we assume, so you can adjust
Every calculator makes assumptions. Most sites hide them. Ours are:
- Homeowners insurance at 0.35 percent of the purchase price a year. Actual premiums vary widely by state, age of the property and claims history.
- Mortgage insurance at 0.6 percent of the loan a year when the deposit is under 20 percent. Real PMI pricing moves with your credit score and loan-to-value.
- Property tax from the rate you set. Rates differ by county and sometimes by school district within the same town.
- A 30-year fixed term on the affordability tool. The payment calculator lets you switch to 20 or 15 years.
- No lender fees, escrow set-up or prepaid items. Those appear at closing and are not part of a monthly payment.
If your situation differs from any of these, move the sliders. That is what they are for. When you want a figure a listing agent will accept, get a verified pre-approval instead.
Independent sources
- Consumer Financial Protection Bureau — impartial mortgage tools and rate data
See what you actually qualify for
Verified income and assets, in about 90 seconds.
No credit check · No documents · Free