It's a program used to help home buyers determine the monthly payment on a mortgage using principal, interest rate, and term as the variables. If you are buying a home or refinancing a mortgage, there are many questions bound to arise. The mortgage calculators can guide you through matters such as whether to rent or buy; figuring the total amount you can borrow; or comparing one mortgage versus another. When using a mortgage calculator, you will certainly appreciate the fast results. Simply answer a few questions and the mortgage loan calculator will provide you with a list of options.