Complete the offer, then compare.
Compare the whole mortgage, not only the rate
Mortgage Calculator
Compare payments, fees and rate risk side by side. See the cost while you expect to keep the loan, the lifetime projection and the cash needed at closing.
Private by design. Property values, income, lender names, rates and fees stay in this browser.
Property and loan
Purchase and down payment
The base mortgage is calculated once and used for every offer.
Base loan amount
$320,000
80% loan-to-value
Property costs Tax, insurance and HOA or service charges
Mortgage offers
Compare rates, points and every lender fee
Use figures from each Loan Estimate, mortgage illustration or ESIS whenever possible.
Two example mortgage offers are ready to compare.
Mortgage comparison
See which offer fits your time horizon
Mortgage balance
Balance remaining over time
| Comparison |
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Amortization schedule
See where the money goes each year
| Year | Opening balance | Principal & interest | Principal | Interest | Mortgage insurance | Lender fees | Extra principal | Closing balance |
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Planning estimate: Results depend on the information entered. Confirm the lender’s official disclosures, adjustable-rate caps, insurance cancellation, taxes, escrow, overpayment limits and early-repayment charges before borrowing.
A fair mortgage comparison
The lowest advertised rate can still cost more
Upfront charges, mortgage insurance, recurring service fees and the time you keep the loan can outweigh a small rate advantage.
Separate lender costs
Points, origination charges, required services, credits and recurring fees vary by offer. Property tax and insurance usually do not make one lender cheaper.
Use your likely time horizon
Large upfront costs have less time to pay back if you move or refinance. Compare the likely horizon as well as the full mortgage term.
Stress adjustable rates
Model a realistic later rate and review contractual caps. A low introductory payment may rise substantially when the fixed period ends.
Before choosing an offer
Compare official disclosures on matching assumptions
Make the quotes comparable
- Use the same loan amount, term, repayment type and lock date.
- Compare the estimated fee-inclusive annual cost as well as the interest rate.
- Enter points, lender credits and all required lender-controlled services.
- Ask how and when mortgage insurance can end.
Check what an estimate cannot promise
- Taxes, insurance, HOA charges and exchange rates can change.
- Adjustable rates depend on the index, margin, caps and floor in the agreement.
- Early-repayment and overpayment rules differ by product and country.
- Use the lender’s signed disclosure for contractual figures.
Mortgage questions
Mortgage Calculator FAQ
How is the monthly mortgage payment calculated?
For a repayment mortgage, the calculator uses the standard amortization formula with the outstanding principal, monthly interest rate and remaining number of payments. It recalculates the payment after an assumed adjustable-rate change.
What costs are included in the total monthly housing payment?
The total combines principal and interest, mortgage insurance, monthly or annual lender service fees, property tax, homeowners or buildings insurance, and HOA or service charges. Property costs are shown separately because they are not controlled by the lender.
Why compare mortgages over an expected holding period?
Many borrowers sell or refinance before the mortgage ends. A lower rate with large upfront fees may cost more over a short period, so the calculator compares interest, mortgage insurance and lender fees over the number of years you expect to keep the loan.
How are mortgage points calculated?
One point is 1% of the base loan amount. Points are included in upfront lender costs. Enter the actual interest rate offered with those points because a point does not reduce the rate by a fixed universal amount.
Is the estimated fee-inclusive rate an official lender disclosure?
No. Bobek estimates an annual cost rate from the loan cash flows and fees you enter so offers can be compared consistently. It is a planning estimate, not a regulated lender disclosure.
How does the adjustable-rate mortgage estimate work?
Choose adjustable or variable, enter the initial fixed period and an assumed later rate, and the calculator recalculates the remaining payment when that period ends. Actual future index movements, caps and lender rules may produce different payments.
What happens when I add extra monthly payments?
Extra payments reduce principal after the scheduled payment each month. This can shorten the payoff time and reduce interest, but check your agreement for overpayment limits or early-repayment charges.
Does Bobek save my mortgage information?
No. The property value, deposit, rates, lender names and fees stay in your browser and are not sent to Bobek.