Using a mortgage payment calculator offers several benefits for prospective homeowners. It allows you to estimate monthly payments based on various loan amounts, interest rates, and terms, helping you understand what fits within your budget. This tool can also highlight the impact of different down payment amounts and loan structures on your overall financial picture. By visualizing costs upfront, you can make informed decisions, explore different scenarios, and plan for additional expenses like taxes and insurance. Ultimately, a mortgage payment calculator empowers you to approach homeownership with confidence and clarity.