What is Bankrate's loan calculator?

Bankrate’s loan calculator was designed to help borrowers calculate amortized loans. These are mortgages, auto loans, student loans and other types of personal loans that are paid off in regular installments over time, with fixed payments covering both the principal amount and interest.

How does Bankrate's mortgage calculator work?

Bankrate’s mortgage calculator gives you a monthly payment estimate after you input the home price, your down payment, the interest rate and length of the loan term. Use the calculator to price different scenarios. You might discover you need to adjust your down payment to keep your monthly payments affordable.

How do I update a Bankrate calculator?

Click Update. Bankrate's calculator also estimates property taxes, homeowners insurance and homeowners association fees. You can edit these amounts, or even edit them to zero, as you're shopping for a loan. In addition, the calculator allows you to input extra payments (under the “Amortization” tab).