Here's a tool that will help you quickly calculate your mortgage payment. Simply enter the loan amount, interest rate and length of the loan.

Important note:  Mortgage calculators only estimate monthly loan payments. As a homeowner, you'll also have to pay real estate taxes and insurance premiums (homeowner's insurance and possibly mortgage insurance).

For simplicity, many homeowners elect to have their lending company pay these related fees for them through an escrow account, wrapping them into each monthly payment. Regardless of whether you decide to go this route, or pay taxes and insurance directly, you should also factor these home-related expenses into your budget.