Making the decision to purchase your first home can be a major milestone in your life, and it is something that you are probably feeling pretty excited about. However, you have to take this decision very seriously; if you don't, you could find yourself in a mortgage that you can't afford or making some pretty bad financial decisions. Therefore, you should consider using resources like a mortgage rate calculator to help you get a good idea of what you are getting yourself into prior to purchasing your home. With a mortgage rate calculator, you can use the information that you find in order to make a solid financial decision that will benefit you and your family for years to come, and you can make sure that you are making a smart investment in purchasing your home.Find Out What You Can AffordWhen it comes to home shopping, it can be easy to pick a home that is a bit out of your price range. Sometimes, pushy realtors might even try to push you into purchasing a home that you can't really afford, or you might want to purchase the home that your family has fallen in love with, even if it is thousands of dollars more than what you can realistically afford to pay for. Therefore, you should consider using a mortgage rate calculator to determine how much your monthly mortgage payments will be. If you do this while you have a clear head, you will know what you can fit into your budget, and you will have an easier time saying no to looking at homes that are out of your price range.Make Smarter DecisionsIt can be a bit confusing to think about how much to put down on your home or how long you would like to pay on your home when you have a real estate agent or lender sitting in front of you, but a mortgage rate calculator can help you make these decisions in a smarter manner.Determine If You Are Getting a Good DealSometimes, lenders just don't offer reasonable interest rates. With a mortgage rate calculator, you can determine if you are truly getting a good deal.