Choose a calculator and enter your own figures. Unless stated otherwise, payment results include principal and interest only. They exclude taxes, insurance, HOA dues, and closing costs. Results help compare scenarios; they are not a loan offer or approval.
Also compare the full monthly housing budget or two Loan Estimates.
Enter monthly amounts, including 0 where a cost does not apply. Convert annual costs to monthly amounts by dividing by 12. Enter each item once: use principal and interest alone in that field, with taxes and insurance in their own fields.
Housing total = principal and interest + taxes + insurance + mortgage insurance + HOA + upkeep. Money remaining = take-home income − housing total − other spending − planned savings. This is a household spending calculation, not an approval limit.
Further detail: CFPB: planning home expenses.
Use the page 3 “In 5 years” figures for offers with comparable amounts, terms, products, and dates. Borrowing cost = total paid − principal paid. Enter cash to close and total monthly payment separately; they answer different questions.
This five-year view is not a lifetime comparison. ARM figures assume unchanged rates; check payment-change terms separately.
Further detail: CFPB: comparing Loan Estimates.