To help determine just how much you can afford to pay each month, you should understand how your mortgage payment is calculated: Your monthly mortgage payment will include your principal, interest, property taxes, and insurance.  Your monthly principal and interest charges are determined by the rate and the amount of the loan. Credit score, discount points you pay, and whether the down payment is less than 20 percent are several factors that affect the interest rate.  Use this calculator to generate an amortization schedule for your mortgage. Quickly see how much interest you will pay and your principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.