• Paying back the principal of your loan.
• Interest on your mortgage loan.
• Local property taxes.
• Insurance on your home.

Obviously, the calculator can only estimate property taxes and insurance, so the total mortgage payment it computes is not exact -- only an estimate. To use this calculator:

• In "Mortgage Loan Amount," enter the amount of the mortgage loan you need.
• In "Terms," enter the length of the mortgage loan.
• In "Interest Rate" enter the interest rate of the mortgage loan. Enter either the fixed rate, or, if your loan has a variable rate, your best estimate of what the overall rate will be over the time you are the borrower.
• In "Down Payment" enter how much you plan to put down on the house.
• Do not use commas.