Introducing RE/MAX Affiliates Results Realty – New name, same great team!

Use this handy mortgage calculator to calculate your mortgage:

Information deemed reliable, but not guaranteed

Mortgage Payments

Frequently Asked Questions

Our mortgage calculator estimates your monthly mortgage payment based on a home’s purchase price, interest rate, down payment and loan term (mortgage period). By providing these details, you can quickly see how different variables affect your payments and total loan cost.

While our mortgage calculator offers valuable estimates and insights, it might not provide the exact borrowing amount. This is because lenders also consider various factors, including credit score, income, and debt-to-income ratio, to determine a more precise borrowing limit.
Since a mortgage calculator helps estimate monthly payments, it allows you to evaluate if a property aligns with your budget. However, keep in mind that it’s also crucial to consider your income, existing debts, and lifestyle expenses to make an informed decision about whether or not you can afford a specific property.
Using a mortgage calculator can offer you quick insights into potential loan scenarios and monthly payments, which can aid your initial planning and house search. However, while these tools provide helpful estimates, lenders have access to your complete financial profile, allowing them to provide more accurate calculations tailored to their specific lending criteria.
The best practice is to use both resources: Start with our mortgage calculator for a general idea, then consult your lender or broker for more precise figures. This two-step approach ensures you have a well-rounded understanding of your mortgage options and the financial commitment involved.
Absolutely! Our mortgage calculator can help compare various mortgage options and terms. By adjusting variables like interest rates, loan terms, and down payments, you can see how different scenarios impact your monthly payments and overall loan cost.
This comparison capability empowers you to make informed decisions about which solution suits your financial goals best. You can evaluate short-term vs. long-term loans, different interest rates, and their implications on your budget. These figures can help you understand your options before committing to a specific mortgage arrangement.
There are certain limitations when it comes to using a mortgage calculator. For example, while they offer valuable insights, they might not consider all factors, such as fluctuations in interest rates, changes in property taxes or insurance, or other unforeseen costs. They also might not reflect specific lender criteria or eligibility requirements.
Additionally, mortgage calculators simplify complex financial situations. For more accurate figures, consult a lender or broker who can consider your unique financial picture.
Certainly! If you’re looking to buy an investment property or second home, you’ll need to input similar information, like the total home purchase price, down payment, interest rate, and loan period. Keep in mind that interest rates and lending criteria may differ for investment properties compared to primary residences, so it’s best to speak to a professional in the industry to get accurate and tailored information for this type of financing.
Mortgage calculators are simple tools that use a home’s purchase price, interest rate, down payment and loan term to calculate your monthly payments. Therefore, they don’t typically factor in additional costs like property taxes and insurance, espeically since these expenses can vary greatly from property to property.