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This calculator will calculate, with 100% accuracy, the total principal of a mortgage when you know the length of the mortgage in months, the interest rate and the monthly payment. This page of this Free Home Mortgage Calculator can be used as a Mortgage Borrowing Calculator. If you know how much you will be able to pay toward your principle and interest each month and can find out what interest rate you qualify for and knowing the term of the loan or mortgage, (usually, 360 months) you can calculate how much money you will be able to borrow. This is an excellent calculator to use when you are considering a refinance mortgage or you are wondering how much could borrow toward the purchase of a home. when you know how much the going interest rate is and you know how much you can afford for monthly mortgage payments, you can easily find how much money you can borrow by using this calculator. You can calculate for 15 year (180 payments), 20 year 240 Parments), 30 year 360 payments)or any length mortgage.
