Yes. The Mortgage Calculator is completely free to use. You can calculate estimated monthly mortgage payments as many times as you like without creating an account or provide an email address. 

No. You can use the calculator without creating an account or signing up.

The Mortgage Calculator estimates your monthly mortgage payment based on your home price, down payment, interest rate, loan term, annual property taxes, annual homeowners insurance, HOA fees (if applicable), and estimated PMI when required.

The calculator provides a reliable estimate based on the information you enter. Your actual payment may vary depending on your lender, loan program, credit score, taxes, insurance, and other closing costs.

Most monthly mortgage payments include:

• Principal
• Interest
• Property Taxes
• Homeowners Insurance
• PMI (if required)
• HOA Fees (if applicable)

Private Mortgage Insurance (PMI) is usually required when your down payment is less than 20% of the home’s purchase price. PMI helps protect the lender if the borrower defaults on the loan.

Yes. You can compare different loan terms, such as 15-year, 20-year, and 30-year mortgages, to see how they affect your monthly payment and total interest paid over the life of the loan.

While many buyers choose to put down 20% to avoid PMI, loan programs may allow much lower down payments. A larger down payment generally reduces your monthly payment and total interest costs.

Absolutely. It’s designed to help first-time buyers understand mortgage payments, compare loan options, and prepare for the home-buying process with confidence.

The Affordability Calculator helps estimate how much home you may be able to afford based on your income, monthly debts, down payment, loan term, and estimated interest rate. It provides a general guideline to assist with your home-buying planning.

The Extra Payment Calculator shows how making additional principal payments can reduce your mortgage balance faster, shorten your loan term, and potentially save thousands of dollars in interest over the life of your loan.

Yes. The Extra Payment Calculator estimates how much interest you may save and how much sooner you could pay off your mortgage by making one-time, monthly, yearly, or recurring extra principal payments.

Yes. After calculating your results, you can email the estimate to yourself for future reference or to share it with your real estate agent or mortgage lender.

No. We don’t save the information. If you choose to submit your information by including the email address the information will be send to that email address and shared with authorized website administrators and participating mortgage professionals in accordance with our Terms and Conditions and Privacy Policy.

If you voluntarily provide your contact information and agree to the Terms and Conditions, a participating loan officer or a Mefthe representative may contact you regarding mortgage options, home financing, or related services. You are under no obligation to accept any offers.