MORTGAGE EXPLORER
A clearer view of
what’s possible.
Explore the numbers together.
One conversation. More perspective.
SAME LOAN. DIFFERENT RATES.
What changes each month?
The numbers, side by side
Illustrative fixed rates, not a rate quote or loan approval. All scenarios use the same term.
About these calculations
Payments assume a fully amortizing fixed-rate loan with equal monthly payments. The monthly interest rate is the annual note rate divided by 12. Buying power reverses that same calculation to find the loan amount supported by the selected monthly principal and interest payment.
In buying power, a percentage down payment holds the percentage constant. A dollar down payment holds your cash amount constant. Purchase price equals the supported loan plus the down payment. Taxes, insurance, mortgage insurance, HOA dues, closing costs, financed fees and rate buydowns are excluded. A purchase price here is a mathematical estimate, not an underwriting limit.
Calculations retain full precision. Amounts shown are rounded; actual servicing and final payments may vary slightly due to cent rounding. Rate scenarios are illustrative, do not include APR or pricing, and do not imply availability. Inputs are processed in this browser and are not saved by the explorer. Learn about mortgage payments at the CFPB.
M = L × r ÷ [1 − (1 + r)−n] · At 0%: M = L ÷ n
L = M × [1 − (1 + r)−n] ÷ r · At 0%: L = M × n
M = monthly P&I · L = loan amount · r = annual rate ÷ 1,200 · n = term in months