The monthly payment amount includes principal and interest based on a fixed-rate mortgage. If you’ll be using an adjustable-rate mortgage, this amount only applies to the fixed period. The monthly payment amount shown is based on information you provided and is only an estimate. This calculator assists you with estimating basic monthly mortgage payments. It is information only. Examples are based on the information entered by you and are for illustrative purposes only. This is not an offer to lend. APR (Annual Percentage Rate) is a rate used to calculate your cost of borrowing in a year. Unlike interest rates, APR factors in the amount borrowed, the interest rate, one-time fees and any discount points to determine a more accurate yearly cost.