Because a mortgage loan is not a responsibility you should take lightly, or a decision you should rush into. Because meeting and collaborating with mortgage lenders should only be done after you gain an understanding of the process yourself. And because with mortgage calculators, you can enter a variety of factors and see how they work together in formulating your projected monthly payment. Consider the following points:

   Your mortgage rate. The #1 influence on your loan will be the interest rate you secure. Even a slight mortgage interest rate percentage change (fractions of a point) could mean thousands of dollars saved down the road.

   Down payment size. Enter various lump sums into the mortgage calculators and see how your monthly payments are altered. Paying more now could save you more in time. Most realtors require 5-10 percent down, but you can pay more if you like.

   Fixed-rate versus adjustable-rate loans. These differing mortgage types impact your loan drastically, because one guarantees the same rate throughout and the other does not.

   The overall size of your loan. Mortgage rates could be really low, but certain homes might be plain out of reach for you at this point in your financial life. Utilize the mortgage calculator to find out approximately how much house you can afford.