Use the calculator to determine the monthly payment of a mortgage. This calculator can be used to calculate any type of loan, such as a home loan, car, land, business, condo, etc. Make sure to consider any other type of fees that might be included. Speak to a local lender at a bank or credit union.

A 30 year fixed interest loan is the most standard mortgage but many other loan terms and types exist. Some people choose to get a 15 year loan so that it will be paid off quicker. Many banks will sell your loan. However, many credit unions will hold your loan until it is paid off. Try getting multiple loan quotes and compare the different offers that you receive. It is easy to apply for a loan once you have the proper documentation. A small decrease in interest rates can have a large effect on the total amount paid so it's definitely worth it to shop around.