Google today launched a mortgage calculator so anyone can quickly figure out how much it will cost them to become a homeowner. The feature is available directly in the company’s search engine on the web at google.com — it works on desktop and mobile browsers.
While the mortgage calculator was first tested late last year with a small number of users, it is now rolling out more broadly. Moz marketing scientist Dr. Pete Meyers first noticed the feature went live earlier today, and Google confirmed the launch just a few hours later.
The company says you can now ask Google questions like “How much can I borrow at $200 a month?” or “At 5% APR how much can I borrow over 10 years?” and get answers without having to navigate to a separate website. You can then adjust the mortgage amount, interest rate, mortgage period, and so on to figure out which options work best for you.
Here is the feature in action on Android:
If you don’t want to ask a question, you can just type in “mortgage calculator” or other similar financial verbiage (a combination of mortgage, loan, interest rate, and calculator should do the trick) in the hopes it will appear above your search results. The default loan amount is for $100,000, but you can adjust it easily:
In addition to the loan amount, you can also tweak the interest rate and the mortgage period. The search widget shows you the total cost of the mortgage as well as what the monthly payment would be.
Unfortunately, the feature doesn’t seem to show up if you’re using Google from regions outside the U.S., though your mileage may vary. We couldn’t get it to show up while testing it in Canada, for example. This is a gradual rollout, so if it doesn’t show up for you today, it may appear very soon.
We’ve reached out to Google for more information and will update you if we hear back.