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Some people take joy in calculating; spending endless hours with a calculator and a pen, setting down a table and a financial plan for almost everything in their life, including their daily expenses, while others are forced to do so due to their tight financial budget.  But when it comes to calculating mortgage payments they are lost because they are not sure what the equation is; how can they reach that final number that will help them make a decision.  The mortgage calculator can answer that question because by entering the value of the house, the interest rate, the down payment, and the mortgage start date, the calculator will come up with the monthly mortgage payment, and that can be compared to the gross income. Other options available with the calculator are extra payments, the property tax, even the private mortgage insurance fee, and credit rating which allows for a more realistic outcome, after all a financial lender would consider many variables to assess the risk before lending out money.