The best mortgage calculators are very helpful when planning for your next real estate purchase. Personal finance rule of thumb says finding the right monthly payment requires assessing your monthly income and not surpassing 30%.
Limiting your monthly housing costs are a major key to creating financial freedom. Keeping monthly mortgage costs below 20% of your monthly income will set you up for financial success.
How to use a mortgage calculator
- Enter the total loan amount you are looking to finance
- Enter the rate you are qualified for with your lender
- Enter the term (number of years) you are looking to finance the property
- Press submit and view the monthly payment and in some cases the amortization schedule
- Change the term and amount financed to see how different numbers impact the monthly payment
Take a look at the best mortgage calculators that will help you research your next personal or investment property financing.
Best Mortgage Calculators
Mortgage Calculator with PMI and Taxes – NerdWallet
The 5 Best Mortgage Calculators – UpNest
Mortgage Calculator with PMI, Insurance and Taxes – SmartAsset
Mortgage Calculator – Dave Ramsey
10 Best Mortgage Calculators – Financial Mentor
The Best Online Mortgage Calculator – DoughRoller
Simple Mortgage Calculator – Money Under 30
The Best Online Mortgage Payment Calculators – Apartment Therapy
Mortgage Calculator – BiggerPockets
Loan Amortization Calculator – Calculate Stuff
Amortization Schedule Calculator – Nerd Wallet
Do you use any mortgage calculators that are better than the ones we listed? Please let us know and add a comment below. We’ll add them to the list.