![]() ![]() For example, if you choose a 15-year term, use the average rate for a 15-year mortgage. If you haven’t been approved for a loan term and interest rate, the rate you select here should correspond with the average rate you entered above. To help calculate your monthly mortgage payment, enter a loan term up to a maximum of 30 years. If you haven’t prequalified for an interest rate yet, you can enter the current average mortgage rate as a starting point. If you’ve already shopped around for a loan and have been offered a range of interest rates, enter one of those values into the interest rate box on the left. Next, add the down payment you expect to make as either a percentage of the purchase price or as a specific amount. And if you’re considering making an offer on a home, this calculator can help you determine how much you can afford to offer. If you don’t have a specific house in mind, you can experiment with this number to see how much house you can afford. Start by adding the total purchase price for the home you’re seeking to buy on the left side of the screen. Please review our Advertiser Disclosure.Whether you’re shopping around for a mortgage or want to build an amortization table for your current loan, a mortgage calculator can offer insights into your monthly payments.įollow these steps to use the Forbes Advisor mortgage calculator: Clicking or selecting "Get My Rate" will cause you to leave Mentor’s website and direct you to the website of our partner, where you can learn more about the partner and its products and services. Any compensation that Mentor receives from its partners may affect how and where products appear on the site, including, for example, the order in which a lender or credit card appears in a table. This may impact which companies we review, the products we evaluate, and where and how a product appears on a page. ![]() The products featured on this website are from our partners who compensate us. How does Mentor make money? We are a for-profit company and receive compensation from a partner when you apply for and receive a partner's product through Mentor. Mentor also does not provide financial, legal, investment, accounting or investment advice. We are not a lender, broker, credit card issuer or financial or investment adviser. Department of Education or any other government agency. We are not affiliated with or endorsed by the U.S. PAY IT DOWN CALCULATOR PROFESSIONALPlease consult a licensed financial professional before making any financial decisions. The results and default figures shown in our tools and calculators are hypothetical and may not apply to your individual situation. ![]() Our tools and calculators are for illustrative purposes only and are not guaranteed to be accurate. Mentor Content is based solely on the author's opinions and is not provided, approved, endorsed or reviewed by any financial institution or partner. Mentor Content is not intended to provide financial, legal, investment, accounting or tax advice. PAY IT DOWN CALCULATOR FOR FREEWe provide articles, comparison tools, calculators and other content ("Mentor Content") for free and for educational and informational purposes only. All financial products and services are presented without warranty or guarantee. Mentor is not involved in the application, underwriting or credit decision for any product or service. For the most updated information, please review the rates, terms, conditions and disclosures on the lender’s or credit card issuer’s website before you apply. Please note that the rates and terms on this website are estimates and may change at any time and/or differ from your final rate and terms. Disclaimer: Mentor strives to keep information on this website accurate and updated. ![]()
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