Estimate your monthly loan payment using the mortgage calculator. See how your monthly payment changes based on the length of the loan, interest rate, loan amount, insurance and property taxes. There’s nothing more frustrating than falling in love with a home and then discovering you can’t afford to buy it. Most importantly, consult with a mortgage lender is the first step you should undertake in the home buying process. To avoid delays once you’ve decided on a property, I encourage you to obtain a pre-approval letter from your lender which could take a few days depending on the lender.