Mortgage Calculator

What this calculator shows you

Enter a purchase price, your down payment, an interest rate and a term, and this tool estimates the monthly principal and interest payment. It loads the current federal 30-year rate so you have a realistic starting point, but you can type in whatever rate you have actually been quoted.

What it leaves out

The figure it returns is principal and interest only. Your real monthly payment will also include property taxes, homeowners insurance, and, if you are putting down less than twenty percent, private mortgage insurance.

In Connecticut that first one matters more than people expect. Property taxes are set town by town through the mill rate, and two houses at the same price in two different towns can carry monthly payments that differ by hundreds of dollars. It is worth running the numbers on a specific address rather than on a price range.

Getting to a real number

A lender can give you a pre-approval with actual figures for your situation, and your Carey & Guarrera agent can walk you through the rest of what a particular house will cost to own. If you are earlier than that and still working out what you can comfortably spend, start here or get in touch — the conversation is free and there is no obligation.