This mortgage calculator is - a calc tool that automatically determines the effect of a change in one of the variables in a mortgage agreement (for refinance calculation, use Amortization-Calc's mortgage refinance calculator). The variables taken into consideration are namely, home purchase price, down payment, loan term, interest rate and date of first payment. Using this tool, you can determine: whether you can afford the credit; how much the payment amounts will be; how long it will take to pay the mortgage off and; what the financial implications of a change in interest rate will be.

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This mortgage calculator should only be used to estimate your repayments since it doesn't include taxes or insurance.