Your mortgage payment can vary widely in different scenarios.

When you’re shopping for a new home, you may have a lot of numbers thrown at you — things like interest rates, loan terms, closing costs, homeowners insurance, and property taxes. But how do they all affect the amount you’re going to be paying on a monthly basis.

For example, you likely prefer the idea of paying your mortgage off in 15 years versus 30 years, but a shorter loan term is going to mean higher monthly payments — but how high? Is a quicker payoff even a realistic option for your unique situation?

Our mortgage calculator is an interactive, zero-commitment way for you to plug in different numbers and consider how they’ll impact your mortgage payment. Try varying property sale prices, annual property taxes, and private mortgage insurance costs. Compare today’s mortgage rates with where mortgage rates could go in the future — both higher and lower. This is your time to consider any number of scenarios and educate yourself so that you’re prepared for what you can and cannot afford.

Remember, even after getting a better understanding of a possible payment, your credit score and type of loan will also impact your overall mortgage costs. You could be eligible for certain programs for first-time homebuyers or through the Federal Housing Administration (FHA), US Department of Veterans Affairs (VA), or US Department of Agriculture (USDA).

This mortgage calculator may help you analyze your financial needs, but the calculations do not infer any fiduciary duties. The Embrace Home Loans mortgage calculator is just meant to be a helpful tool and calculations should not be construed as financial, legal, or tax advice. We cannot guarantee its accuracy and rates may change.