5 Best Mortgage Calculators: How Much Can You Borrow?

Shopping for a new home is an exciting time. You can begin your search by browsing through homes in your area on Zillow and finding the right fit using a mortgage calculator.

Tips for Getting a Mortgage

1) Don’t be married to the lowest interest rate that you find. The bank with the lowest rate is not always the best choice.

2) Talk to an expert at your local bank or credit union.

3) Ask your friends who are homeowners about their experience with their lenders.

4) Consider 5- or 7-year adjusted rate mortgages (ARM), but make sure you know everything there is to know about them by speaking to a professional.

5) If you’re working with a trustworthy real estate agent , ask their opinion.

Here are 5 great mortgage calculators to help guide you on your journey to homeownership. Most of these are very similar, but range in features and complexity.

1. U.S. Mortgage Calculator

This is one of the best mortgage calculators. It’s highly detailed without having any ads for banks. You get a comprehensive breakdown of monthly payments and a detailed mortgage payment schedule for the amortization period (30 or 15 years).

2. Google

This is a recent feature for Google, allowing you to search phrases like “what mortgage can I afford at 900 a month” or “mortgage calculator”. You’ll see a calculator built into Google’s search engine result page.

You can calculate principal and interest with proposed interest rates. You can also edit estimated property taxes, homeowner’s insurance, and private mortgage insurance.

3. Realtor.com Mortgage Calculator

This calculator is great for its simplicity. Plugin the home price you’re looking at, what you have for a down payment, and a safe interest rate number. You’ll get to quickly see breakdowns of the monthly payment, amortization, and payment schedule for each year.

4. CNN Money

This calculator is also fantastic in how simple it is. If you want something straight to the point, this is a favorite. It doesn’t show you graphs, pie charts, or amortization charts. Just see what your monthly payment will be with principal and interest, PMI, taxes, and insurance.

5. Zillow

Zillow is well-known for having an easy-to-use home search, and their mortgage calculator is no different. This calculator is simple, but you have the option to view a “full report.” If you wish, you can see a payment breakdown for every single month of the loan duration.

It’s important to understand how a mortgage payment will fit into your budget. We hope these calculators are a great resource for you on your home buying journey.

If you haven’t started working with an agent, consider using UpNest to find a top buyer’s agent who can potentially give you a buyer’s rebate and save you thousands.

UpNest Home Loans

UpNest Home Loans offers fantastic rates for mortgage loans. With guaranteed on-time closing, fast pre-approval, and low down payments, it might be the perfect loan vendor for you.

Try any of our recommended mortgage calculators. They’re all reliable and accurate. We recommend: U.S. Mortgage, Google, Realtor.com, CNN Money, and Zillow.

Yes, mortgage calculators online are accurate. However, you’ll get the most accurate results by talking to your mortgage lender and getting pre-approval based on your specific income and credit.