We search thousands of rates every day to bring you the absolute lowest priced loan at the best rate! Click here to search our low rates.
Fast, easy-to-understand process saves you time! Click here to find out what to expect.
We offer a complete range of conforming, non-conforming, and government loans.
Bad Credit? Get a YES at HomeTown Lenders! Click here to find out how
HomeTown Lenders is your best choice for mortgage financing solutions. Click here to find out why!
NEED TO GET MORE INFORMATION ON MORTGAGE BASICS?
NEED TO GET PRE-APPROVED?
Information Resource Center
Input
Instructions This simple calculator calculates your monthly payment based on your input. This calculator assumes conventional mortgage financing compounded semi-annually. The maximum Gross and Total Debt Service Ratios (GDSR and TDSR) are usually 32% and 40% respectively. The calculation assumes the total of all non shelter financial obligations will not exceed an additional 8% of the required household income. A conventional financing calculation should incorporate 75% mortgage up to 400,000 of value and 65% thereafter to determine the required down payment. This underwriting practice varies between financial institutions.
Results
These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.
