(Big thanks to Dave Tufts for this calculator!)
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan.
Calculations are based on the home's sale price, the term of the loan desired, the buyer's down payment percentage, and the loan's interest rate. This calculator also estimates PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Additionally, property taxes and their effect on the total monthly mortgage payment are estimated.