MORTGAGE CALCULATOR

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
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Your mortgage payments over 30 years will add up to $0.
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MORTGAGE HELP

Down Payment

FHA Mortgage downpayment is typically 3.5% while Conventional Mortgage loans require 5% or even 3% down payment.  The exact Down payment amount required can vary depending on the Buyer's situation and if the Buyer owns other Homes.  Some Lenders will allow a portion of the Buyer's Downpayment to be "Gifted" from a relative or friend.

Loan Term

Typically 30years or 15 years but some lenders do offer other terms of 10 years or 40 years.  Your loan term will affect your interest rate and monthly payments. 

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.

Interest Rate

This field is pre-filled in the calculator above with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment amount.

Property Tax Rate

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Homeowners Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options. The age of a Home or the components in a Home such as the roof will affect the Insurnace Premium.

HOA Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving common areas in the community.