Your annual income before taxes. For joint applicants this is your total combined annual income before taxes.

The price of the home you wish to purchase. This is the actual price you'll pay, not including any closing costs.

Your total monthly payment, including principal, interest, taxes and insurance (often called "PITI").

The number of years over which you will repay this loan. Common mortgage terms are 15, 20 and 30 years.

The current interest rate you expect to receive on your mortgage. Please note that the interest rate is different from the Annual Percentage Rate (APR), which includes other expenses such as mortgage insurance, and the origination fee and or point(s), which were paid when the mortgage was first originated. The APR is normally higher than the simple interest rate.

Your property tax rate. 1% for a $100,000 home equals $1,000 per year in property taxes.

Your home owner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.

Choose how the report will display your payment schedule. Annually will summarize payments and balances by year. Monthly will show every payment for the entire term.

Cash you have for the down payment and all closing costs.

The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.

The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.

Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.

Limit your down payment to percentage required to eliminate the need for PMI payments. Even if you have more cash on hand than required for closing costs, checking this box will limit your down payment to the minimum amount required to forego PMI.

Total monthly payment for your car loan(s).

Total monthly minimum payments for your credit cards.

Any other installment loan payments, such as student loans or unsecured loans.

Total upfront costs to close your loan. This is the total of your loan origination fee, points paid and other closing costs.

Monthly cost of Principal Mortgage Insurance (PMI). For loans secured with less than 20% down, PMI is estimated at 0.5% of your loan balance each year. Monthly PMI is calculated by multiplying your starting loan balance by this percent and dividing by 12. When the equity in your home exceeds the percentage required for PMI, your PMI payment drops to zero. Please note that this is only an estimate of your actual PMI. The amount you may be required to pay may be higher or lower than our estimate.

Monthly principal and interest payment.

Not shown. This is the percentage of your annual income your financial institution allows you to use for debt installment payments. This includes car payments, credit card payments, other loan payments and your principal, interest, taxes and insurance payment for your home. The default rate is 36%.

Total amount of interest you will save by prepaying your mortgage.

Not shown. This is the percentage of your annual income your financial institution allows you to use for your principal, interest, taxes and insurance payment for your home. The default rate is 28%.