Mortgages lenders provides you, the borrower, a set amount of money to buy a home. You agree to pay back your loan with interest for a pre-determined amount of years. The amount of money you can borrow will depend on what you can afford and the market value of the home, determined through an appraisal.
Use the calculator below to get a round about idea of what your mortgage payments will be when taking a loan.
Mortgage Calculator
*PMI and Taxes are not factored into this calculation