Enter the loan amount (or "principal") in dollars, the loan term in years, and the interest rate (e.g., 4.125).

Our mortgage calculator will tell you the expected monthly payment (NOT including any property taxes or homeowner's insurance), and the amortization schedule will show you how these monthly payments will gradually pay down the debt.

For each month, the amortization schedule shows how much of the monthly payment is interest on the outstanding loan balance, and how much is repayment of principal that goes toward reducing the loan balance.

The amortization schedule also shows the total amounts of interest and principal paid, both per year and over the entire term of the loan.

There are many alternatives to bank financing today, do your homework in finding the best option for your situation and keep an open mind. Banks are not always the best answer and they certainly are not the only answer. Financial brokers today have a vast array of products to fit most circumstances and the best ones are up to date with the latest trends and options so they can place your financing with the best product on the market.

Talk to your bank, then talk to a Mortgage Broker, compare and make your decision.