Calculating Your Mortgage Payment
One of the first things that you will need to do is calculate what kind of home you can afford. You will then be able to determine where to look for a new home and what features to expect in your new home.
You will find two simple mortgage calculators below. One for calculating your monthly payment and the other for determining how much you can afford. Neither of these calculators include the total cost, including the closing costs, involved with getting a new home.
To see an accurate picture of your total costs we recommend the True Cost Calculator from Fannie Mae at:
http://www.fmcalcs.com/tools-tcc/fanniemae/calculator
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