This tool helps to calculate estimated mortgage payments. You can use this to get a small view of what would happen over your loan.

Loan Amount: Enter how much you expect to borrow in this box here.

Down Payment: How much are you willing to put as a down payment? Place that value next.

Interest Rate: This is a fixed interest rate over the term of the loan.

Term: Usually a fixed value in years, for a certain loan program. The average is 30. You may not live in the home for that long, but the mortgage term is structured over that period of time.