Get Personalized Mortgage Advice
Our calculators provide estimates, but every situation is unique. Schedule a free consultation for personalized guidance and actual loan quotes.
Our calculators provide estimates, but every situation is unique. Schedule a free consultation for personalized guidance and actual loan quotes.
Professional mortgage calculators to help you make informed home financing decisions. Calculate payments, check affordability, compare refinancing options, and explore amortization schedules with our comprehensive suite of free tools.
Select from our suite of specialized mortgage calculators designed to answer your specific questions about home financing.
Calculate Your Monthly Payment
Estimate your monthly mortgage payment including principal, interest, taxes, insurance, and PMI. Get accurate calculations based on current mortgage rates.
Best For: Perfect for homebuyers planning their budget and comparing different loan scenarios.
How Much House Can You Afford?
Determine your home buying budget based on income, debts, and down payment. Calculate maximum purchase price and comfortable monthly payment range.
Best For: Essential for first-time buyers and anyone starting their home search journey.
Calculate Your Refinancing Savings
Compare your current mortgage with refinancing options. Calculate monthly savings, break-even point, and lifetime interest savings.
Best For: Ideal for homeowners considering refinancing to lower rates or access home equity.
View Your Full Payment Schedule
Generate a complete amortization schedule showing how each payment reduces principal and interest over your loan term.
Best For: Great for understanding long-term costs and planning extra payments to save on interest.
All calculators work perfectly on any device
Your data stays on your device, never stored
Calculations update instantly as you type
Mortgage calculators are essential tools for anyone involved in the home buying or refinancing process. These powerful calculators help you understand the financial implications of your mortgage decisions before you commit to a loan.
A mortgage calculator provides instant insights into your potential monthly payments, total interest costs, and overall affordability. By inputting different scenarios, you can compare loan options, understand the impact of down payments, and see how interest rates affect your long-term costs.
Mortgage calculators use mathematical formulas to determine your monthly payment based on the loan amount, interest rate, and loan term. The basic formula calculates the principal and interest portion, while comprehensive calculators add property taxes, homeowners insurance, and PMI when applicable.
Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ-1]
Where P = Principal, r = Monthly interest rate, n = Number of payments
Payment calculators determine your monthly mortgage payment including all components: principal, interest, taxes, insurance, and PMI. This is the most commonly used calculator for budgeting purposes.
Affordability calculators work backwards from your income and existing debts to determine how much house you can afford. They consider debt-to-income ratios and down payment amounts to estimate your purchasing power.
Refinance calculators compare your current mortgage with potential refinancing options, calculating monthly savings, break-even points, and total interest savings over the life of the loan.
Amortization calculators show how each payment is split between principal and interest over time, helping you understand how your loan balance decreases and how extra payments could save you money.
The total amount borrowed directly impacts your monthly payment. A larger loan means higher payments, while a bigger down payment reduces the loan amount and monthly obligation.
Even small changes in interest rates can significantly affect your payment. A lower rate means more of your payment goes toward principal, reducing total interest paid.
Shorter terms like 15 years have higher monthly payments but save substantial interest. Longer terms like 30 years lower monthly payments but increase total interest paid.
A larger down payment reduces your loan amount and may eliminate PMI requirements. Putting down 20% or more typically removes the need for mortgage insurance.
While mortgage calculators provide valuable estimates, remember that actual loan terms may vary based on your credit score, debt-to-income ratio, and lender requirements. Use calculator results as a starting point for discussions with mortgage professionals.
Our calculators provide highly accurate estimates based on standard mortgage formulas. However, actual payments may vary slightly based on lender-specific fees, exact tax amounts, and insurance premiums.
Yes, always include property taxes and homeowners insurance for a realistic monthly payment estimate. These can add 20-40% to your principal and interest payment.
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20%. It protects the lender and usually costs 0.5-1% of the loan amount annually.
Use our refinance calculator to compare your current loan with new options. Generally, refinancing makes sense if you can reduce your rate by 0.75% or more and plan to stay in the home long enough to recoup closing costs.
Once you've used our mortgage calculators to understand your options, the next step is connecting with a mortgage professional who can provide personalized guidance and actual loan quotes. Our team at CMG Home Loans specializes in helping Bergen County residents find the perfect mortgage solution.
Our mortgage calculators have helped you explore your options. Now let's make your homeownership dreams a reality with a personalized loan consultation.
Get personalized mortgage advice from an expert. No obligation, no fees. Choose the meeting type that works best for you.
15-30 minutes
Quick call to discuss your mortgage needs
30-45 minutes
Detailed review of your financial situation
45-60 minutes
Available across all licensed states
Or call directly: (908) 698-0150
Start with our free calculators to explore your options, then connect with our experts to turn your calculations into reality.