Calculating Mortgage Before Closing

We like surprises, but not when they involve us having less money than we expected. When it comes to buying a home, surprises typically aren’t a welcome sight. Before purchasing a home, determine how much you will be paying for your mortgage ahead of time, so you are not hit with any unforeseen surprises.  

How to Calculate Mortgage Payment

When calculating a mortgage payment there are two methods commonly used. The first is to use a mortgage calculator. The other method is using old-school math. The mortgage calculator is probably the easier and more accurate option.  There are several important pieces of information that one will need. In order to effectively calculate how much a mortgage payment will be, have the following numbers available: Home Value, Loan Value, Interest Rate, Length of Loan, Annual Taxes, Annual Insurance, and Annual PMI (Private Mortgage Insurance). With these numbers handy, they can input onto an online mortgage calculator to find an estimate of what the price of a mortgage will be.  

Mortgage Calculator

Use our advanced mortgage calculator to see how much you will be spending on your mortgage. Using an online calculator like the Spire mortgage calculator will make the process much more feasible, especially if you are not familiar with the math and calculations required to determine a mortgage.  There are a number of other calculators available, including a purchase calculator, an amortization calculator, and a refinancing calculator. Using these different calculators helps understand the steps to take and the expectations to have according to certain needs and situations. Starting with the calculator as a foundation allows quick estimation of a monthly mortgage payment amount. 

A Lending Hand for Financing Home Mortgages

Spire Financial (A Division of AmeriFirst Financial Inc.) brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.



Spire Financial, a division of AmeriFirst Financial, Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS # 145368). 303-595-0110. © 2022. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. AmeriFirst Financial, Inc. is an independent mortgage lender and is not affiliated with the Department of Housing and Urban Development or the Federal Housing Administration. Not intended for legal or financial advice. Visit for all state licenses information. Visit NMLS Consumer Access at

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