At Elfant Wissahickon Realtors, we know one of the first steps for homebuyers is understanding what your mortgage payment will look like. That’s why we offer a free mortgage calculator, right on our website, to help you quickly estimate your monthly mortgage payment and start planning confidently.
Whether you’re a first-time buyer or thinking about moving, our mortgage calculator makes it easy to estimate what you can afford based on home price, down payment, interest rate, and loan term.
When calculating your monthly payment, it’s important to understand what goes into it. Lenders often refer to the four main parts of a mortgage payment as PITI: Principal, Interest, Taxes, and Insurance. The principal is the amount you’re borrowing, while interest is the cost of borrowing that money, determined by your interest rate. Taxes refer to property taxes, which your lender may collect and pay on your behalf, and insurance means homeowners insurance, which protects your property and is typically included in your monthly mortgage payment. Together, these make up your total monthly mortgage payment — and understanding them helps you budget more accurately.
While our calculator gives you a solid starting point, everyone’s situation is different. Additional factors like private mortgage insurance (PMI) or homeowners association fees may also apply depending on your home and financing plan.
EWR works closely with a trusted group of preferred mortgage lenders who know the Philadelphia region's real estate market and can help tailor your financing options. If you’re ready to get pre-approved or simply have questions, we’d be happy to connect you with them.
Use our mortgage calculator today to get an estimate — and when you’re ready to take the next step, we’re here to guide you through every part of the homebuying process. Contact us anytime to get started — we’re happy to help!
