Working out how much you can pay for a mortgage can help you stay in control of your finances. Use our Mortgage Payment Calculator to learn how much you’d pay in different circumstances.
Note: To find it, visit usbank.com, select Personal at the top of the page, choose Home loans, then Mortgage calculators. Scroll down and select Mortgage Payment Calculator on the left side of the page.

All you need to do is enter the requested details on the form and select Calculate. To use it again, just re-enter the figures and select Update.

• Purchase amount: This is how much you’re budgeting to pay for a home.
• Down payment: This is how much you can pay upfront at the time of closing.
• Loan terms: Use the drop-down menu to choose how many years you want to take to pay it off. The interest rate changes, based on the years chosen and other information provided.
  • 30 years
  • 20 years
  • 15 years
  • 10 years

Examples:

The Mortgage Payment Calculator gives you an estimated monthly payment based on the details provided. However, it assumes some things. For example, that you’re buying a single-family home as your main home. This calculator also makes assumptions about closing costs, lender’s fees and other costs, which can be substantial.

To learn more, visit our First-time homebuyers loans page.