To calculate your mortgage cost, follow these steps: 1. Gather Your Information - Gather information on the loan amount, interest rate, and loan term. Obtain information on property insurance and taxes. 2. Use the Mortgage Calculator - Visit a reliable mortgage calculator website. Input the loan amount, interest rate, loan term, property insurance, and taxes. Click on the calculate button to get the monthly payment amount and other relevant figures. 3. Analyze the Results - Take note of the monthly payment amount. Pay attention to the amortization schedule and how much of each payment goes towards principal and interest. 4. Evaluate Affordability - Consider your monthly income and expenses. Determine if the monthly payment is affordable based on your financial situation. 5. Consider Refinancing or Adjusting Terms - If the monthly payment is not feasible, consider refinancing or adjusting the loan term. By following these steps, you can accurately calculate your mortgage cost and make informed decisions about your home financing.