Determine how much mortgage you can afford with a simple mortgage calculator
As you prepare to buy a home, one of your first questions is most likely “How much mortgage can I afford?” A simple mortgage calculator can help you answer that question. You should also check out all of our mortgage calculators.
Knowing how much mortgage you can afford is essential as you begin to look for a home. Buying a home is one of the biggest financial decisions of your life, and it’s important to make sure the payments on your mortgage will be manageable for your finances over the term of the loan.
eLEND offers an easy-to-use home mortgage calculator that can help bring clarity as you decide upon a home and the right mortgage program to finance it. As a leading mortgage provider, we strive to provide affordable home financing options to first time buyers and existing homeowners. With eLEND, you’ll not only find a simple mortgage calculator, but a team of expert mortgage specialists dedicated to simplifying the mortgage process and helping you find the right mortgage for your financial situation.
Find a simple mortgage calculator at eLEND
The eLEND simple mortgage calculator can help you determine how large a mortgage you can afford and what your monthly payments will be.
To use the simple mortgage calculator, you’ll need to provide a little information that includes:
- The purchase price of the home
- The amount of the down payment
- The location or ZIP Code of the property
- The type of mortgage you would like —a fixed or adjustable rate mortgage
- The mortgage interest rate of the loan
- The terms of the loan — the number of years of which you will pay off the mortgage
Once you have entered that information, the simple mortgage calculator will show you what your principal and interest payment will be on a monthly basis. By adjusting the terms of the loan or the type of mortgage in the online loan calculator, you can see how these changes would affect the monthly mortgage payment and ultimately decide which terms will work best for your household budget.
Choose the right mortgage with your simple mortgage calculator
Once you’ve used our simple mortgage calculator to determine how much mortgage you can afford, we can help you compare home loan rates and choose the right mortgage program for you. eLEND offers a wide variety of mortgage programs, including fixed and adjustable rate mortgages, as well as jumbo loans, USDA rural housing loans, FHA loans, VA loans and more.