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Sites like bankrate.com and countrywide.com provide free online calculators. Save yourself time and frustration trying to determine monthly payment when these programs offered free work well. Some of calculators can also factor in extra payments to your schedule and will show end result savings. An amortization schedule is also provided to show you how your payments over thirty years reduce your liability and increase your equity in property.
Most mortgage lenders will give you a maximum you can afford and should be within a few dollars of actual dollar amount should you ask them for monthly payment calculated. Your being comfortable with mortgage payment will help you recognize your monthly commitment to property. There is a lot more involved than just making payment to mortgage, utilities, upgrades and other expenses come into play when factoring in all your overall commitment.
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.