If you are getting a home loan to finance the purchase of your new home, than this mortgage calculator is a great tool to help you with determining your monthly payment.  If you have been preapproved for a mortgage and chosen a mortgage company and/or lender, your loan originator would have given you an idea on what your interest rate will be. You will need this information in order to get an accurate calculation of your monthly payment when using this calculator. If you have not been preapproved for a mortgage and would like some recommendations of local, reputable people, please contact us, and we will be happy to provide you with this information.